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Sri Lanka and Thailand are set to signal a Free Commerce Settlement (FTA) on February 3, aiming to raise bilateral commerce to over US$ 1.5 billion.
Thailand’s Prime Minister Srettha Thavisin will go to Sri Lanka for the signing ceremony and also will be a particular visitor on the 76th Nationwide Independence Day celebrations on February 4 at Galle Face, presided over by President Ranil Wickremesinghe.
The settlement not solely seeks to boost commerce but additionally goals to draw Thai traders to Sri Lanka. As a part of the initiative, a delegation of fifty main traders from Thailand will accompany Prime Minister Thavisin to discover funding alternatives within the nation. The FTA consists of provisions for tax reduction on sure items traded between the 2 nations.
The anticipated FTA is poised to facilitate elevated exports from Sri Lanka to Thailand, notably within the sectors of gems and jewellery, tea, and agricultural merchandise. The settlement signifies a step towards strengthening financial collaboration between the 2 nations and fostering mutual progress and improvement.
Associated Information
SL – Thailand FTA to be signed subsequent March
SL – Thailand to carry fifth Spherical of Bilateral Political Consultations in Colombo
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