Sri Lanka Enters Into Its First Ever Comprehensive Free Trade Agreement: SL- Singapore FTA Signed

The Government of Sri Lanka signed a Free Trade Agreement with Singapore at the Presidential Secretariat, today (23).

The Free Trade Agreement will boost the trade between the two countries as this would facilitate duty free access to selected goods and services for each other.

The signing of the Free Trade Agreement took place following the bilateral discussions between visiting Prime Minister of Singapore Lee Hsien Loong and President Maithripala Sirisena at the Presidential Secretariat. The Singapore Prime Minister visited Sri Lanka yesterday on an invitation extended by the President.

The Minister for Development Strategies and International Trade Malik Samarawickrama and S.Iswaran Minister for Trade and Industry of the Republic of Singapore signed the  Free Trade Agreement, in the presence of President Sirisena, Prime Minister Lee Hsien Loong and Prime MInister Ranil Wickremesinghe.

This is Sri Lanka's first-ever comprehensive bilateral free trade agreement, which covers a larger area than mere goods. 

 It is also Sri Lanka's first bilateral free trade agreement in over a decade.

 

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