• Potential PTA discussions between SL and Indonesia on the horizon
• March meetings planned for FTA talks with Malaysia and India
• Upgraded trade agreements aim to enhance bilateral relations, economic cooperation

Sri Lanka and Indonesia are considering entering into a potential Preferential Trade Agreement (PTA), according to the International Trade Office.

Speaking to The Sunday Morning Business, International Trade Office Chief Negotiator K.J. Weerasinghe revealed that following the Free Trade Agreement (FTA) signed with Thailand on 3 February, Sri Lanka was looking to enter into a PTA, with discussions in this regard scheduled for March.

Responding to a query on whether both countries had come to an agreement on when the first round of talks would be held, he stated: “We have not come to that stage yet. We are looking at somewhere in March just for a short virtual meeting.”

As part of the Government’s drive to expand Sri Lanka’s inventory of trade agreements, it was announced recently that Sri Lanka would also be seeking to enter into an FTA with Malaysia.

According to Weerasinghe, the first round of talks between Sri Lanka and Malaysia is likely to take place end-March. However, he said that both parties were yet to agree on a date and location.

In addition to these PTAs being considered, Sri Lanka has also been negotiating with India to upgrade the existing trade agreement between the two nations.

While India and Sri Lanka have entered into the Indo-Sri Lanka Free Trade Agreement (ISFTA), both nations have since attempted to upgrade the agreement by entering into an Economic and Technology Cooperation Agreement (ETCA).

Speaking to The Sunday Morning Business last week, Weerasinghe stated: “We have had many discussions and we are trying to schedule the next round of talks for March. The agreement that is proposed will cover services, investment, anti-dumping, countervailing, economic cooperation, and dispute settlement, in addition to goods,” he added.

Accordingly, Cabinet Spokesman Bandula Gunawardana on Monday (19) revealed that the 14th round of talks between Sri Lanka and India on the ETCA was scheduled to be held in New Delhi in the first week of March.