COLOMBO (News 1st) – The Ministry of Trade says that steps have been taken to speedily re-implement around 35 trade agreements signed with various countries, which currently remain inactive.Ministry Secretary S.T.
Kodikara stated that the International Trade Office, Ministry of Finance, Central Bank of Sri Lanka, Commerce Department of the Ministry of Trade and Ministry of Foreign Affairs will implement this program in collaboration.The Secretary stated that many discussions regarding some trade agreements have collapsed due to various reasons.The Secretary of the Ministry of Trade stated that these agreements are being implemented with the aim of promoting trade among the countries which have exempted existing tax bases.Under this initiative, it is expected to improve the free trade agreement with Singapore.Apart from the FTA, the trade agreements signed with India, Thailand and China, which are currently inactive, are also due to be implemented again soon.