Sri Lanka and India are set to embark on the 13th Round of Economic and Technology Cooperation Agreement (ETCA) negotiations, scheduled to take place from January 08 to 10 in India.
This significant development was announced by the Sri Lankan government, reflecting the ongoing commitment to fostering economic and technological collaboration between the two nations.
The decision to hold the negotiations in India comes after the 12th Round of discussions took place in Colombo from October 30 to November 01, marking a crucial milestone in Sri Lanka's economic and technological journey. During the 12th Round, a delegation of 19 Indian officials, led by Shri Anant Swarup, Chief Negotiator and Joint Secretary of the Department of Commerce, Ministry of Commerce and Industry of India, engaged in extensive discussions on various facets of the comprehensive ETCA.
The topics covered during the 12th Round included 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. A dedicated session was also held to address implementation-related issues of the existing India-Sri Lanka Free Trade Agreement (ISFTA).
The Cabinet of Ministers, at its meeting on Tuesday (Dec.05), considered the outcomes of the 12th Round, emphasizing the substantial progress made in enhancing the economic partnership between the two nations. President Ranil Wickremesinghe's submission highlighted the significance of the negotiations, marking a decisive step towards strengthening ties and fostering collaboration in various sectors.
The government aims to conclude the technical-level discussions of the ETCA by March 2024, underlining the commitment of both Sri Lanka and India to deepen their economic cooperation. As talks progress, it is anticipated that the ETCA will open up new avenues for trade and investment, contributing to the prosperity of both nations in the dynamic global landscape.
