The recently signed Free Trade Agreement (FTA) between Sri Lanka and Thailand holds significant importance for Sri Lanka, said Ceylon Chamber of Commerce (CCC).
“The FTA is addressing critical challenges in the country’s export sector, especially the lack of both export diversification and varied export destinations.”
The Ceylon Chamber views the FTA with Thailand as a catalyst for economic growth and trade diversification for Sri Lanka, positioning it strategically within the broader Asia-Pacific region.
The reduction in tariffs for traditional exports like tea, apparel, coconut, rubber, cinnamon, and fishery products is expected to provide a boost to Sri Lanka’s export growth in 2024.
“The FTA is also expected to stimulate growth in services exports, particularly in sectors like construction, education, computer and IT services, tourism, and environmental…
