Free trade agreement: Sri Lanka and Thailand set to seal the deal

A Sri Lankan gem miner searches through washed stones in Kalu River in Ratnapura district, 00 kilometres southeast of Colombo. Picture courtesy of Bangkok Post

With a renewed focus on trade agreements, Sri Lanka is preparing to finalise and sign a free trade agreement (FTA) with Thailand on February 3, next year. The development was announced by Sri Lanka’s Cabinet spokesperson today, November 21, confirming that discussions were on track for completion in December.

The impending agreement is part of the island nation’s strategic efforts to invigorate its economy, which is currently reeling from the worst financial crisis in decades. The spokesperson revealed that the proposed Sri Lanka-Thailand Free Trade Agreement (SLTFTA) will be signed following the conclusion of the ongoing discussions.

Sri Lanka and Thailand’s bilateral trade amounted to…