Sri Lanka Set to Sign Free Trade Agreement with Thailand in February 2024
The Department of Government Information has confirmed that the anticipated Sri Lanka – Thailand Free Trade Agreement (SLTFTA) is scheduled for signing on February 3, 2024. This significant agreement is expected to follow the conclusion of rounds of discussions by December 2023.
In alignment with the agreements reached during rounds 06 and 07 of these discussions, the Cabinet of Ministers has given approval to the customs levy releasing program of Sri Lanka. This program has been devised to facilitate the phased release of categorized serial numbers, allowing for the release of 80% of the combined categorized serial numbers over a 15-year period based on the 2022 data. Additionally, a provision has been made to partially release 5% of the combined categorized serial numbers within a span of 15 to 18 years. The remaining 15% of the combined categorized serial numbers will be included in the minus list, pending submission by the President for their consent, according to the Department of Government Information. This step represents a strategic move towards the facilitation and regulation of trade between the two nations