Sri Lanka’s Ambassador to China Dr. Palitha Kohona and China’s Vice Minister of Foreign Affairs Luo Zhaohui agreed to recommence negotiations on the bilateral Free Trade Agreement in a recent meeting.
During the meeting, both Dr. Kohona and Zhaohui acknowledged that it would advantageous for Sri Lanka if the two countries are able to conclude the proposed FTA soon,
Dr. Kohona also raised the issue of non-tariff barriers which are blamed to be hindering access to the lucrative Chinese market for a range of natural, agricultural and industrial products for Sri Lankan exporters.
The bilateral trade flows between the two countries remain largely in favour of China.
Furthermore, the Chinese Foreign Ministry also assured that it will proactively support efforts to increase Chinese tourism to Sri Lanka and more businesses, including SOEs, to invest in the Colombo Port City and the Hambantota Industrial Zone.