Jun 26, 2017

Ministers approve talks on FTAs Featured

Ministers have approved a trade discussions committee to negotiate free trade agreements with India, China and Singapore, on a proposal submitted by development strategy and international trade minister Malik Samarawickrama.

Accordingly, the ministerial subcommittee on economic management has recommended the appointment of a nine member trade discussions committee to hold talks with regard to the FTAs.

The ETCA, the FTA with India, will be expanded into a more extensive trade and economic partnership, while talks will also take place to take forward the FTA with China reached in 2014 and to sign a FTA with Singapore.

Government sources say that pursuant to cabinet approval given on 14 June 2016, six rounds of talks with China, four rounds of talks with India and five rounds of talks with Singapore have so far taken place.

The next rounds of discussions will take place next month on the basis of the technical evaluations submitted by nine technical subcommittees of the relevant ministries, departments and institutions.

Three members each of the chambers of commerce will take part as observers at every round of talks.