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Economic and Technology Cooperation between Sri Lanka and India

The 13th Round of Economic and Technology Cooperation Agreement (ETCA) negotiations between Sri Lanka and India are scheduled to be held from January 08 to 10, the government says.

Accordingly, the next round of negotiations is planned to take place in India.

Meanwhile, it has been decided to conclude the technical-level discussions of the ETCA by March 2024.

At its meeting on Tuesday (Dec.05), the Cabinet of Ministers took into consideration the submission made by President Ranil Wickremesinghe regarding the 12th Round of ETCA negotiations between Sri Lanka and India which took place from October 30 to November 01 this year in Colombo. It marked a significant development in the island nation’s economic and technological journey.

A delegation of 19 Indian officials, led by Shri Anant Swarup, Chief Negotiator and the Joint Secretary of the Department of Commerce, Ministry of Commerce and Industry of India, had visited Sri Lanka for the 12th round of discussions. They engaged in extensive discussions on this comprehensive Agreement.

The discussions during the 12th Round covered a wide range of topics, including Goods, Services, Rules of Origin, Trade remedies, Customs Procedures and Trade Facilitation, Technical Barriers to Trade, Sanitary and Phytosanitary Measures and Legal and Institutional Affairs. Additionally, a special session was dedicated to addressing implementation-related issues of the existing India-Sri Lanka Free Trade Agreement (ISFTA).

The resumption of ETCA negotiations represents a significant step towards strengthening the economic partnership between Sri Lanka and India. The government earlier said it underlines the commitment of both nations to foster collaboration in various sectors, ultimately benefiting their economies and the well-being of their citizens.

As the talks progress, it is anticipated that this agreement will open up new avenues for trade and investment, bringing prosperity to both nations in the ever-evolving global landscape.

Adaderana

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