In a promising development, Sri Lanka is set to finalize its free trade agreement (FTA) negotiations with Thailand by December, with plans to officially sign the agreement on February 3, 2024. This significant move comes as Sri Lanka actively seeks trade deals to stimulate economic growth and facilitate recovery from one of the most severe financial crises it has faced in decades.
The island nation's renewed focus on trade agreements underscores its commitment to revitalizing its economy and fostering international trade partnerships. The forthcoming FTA with Thailand is expected to unlock a range of economic opportunities for both countries.
The decision to accelerate the negotiations and set a signing date demonstrates the urgency and importance of this agreement to Sri Lanka's economic revival efforts. The FTA is poised to facilitate trade between the two nations, promoting economic resilience and prosperity in a challenging global economic landscape.
The International Trade Council acknowledges the significance of this development and anticipates positive outcomes for both Sri Lanka and Thailand as they strengthen their trade ties and create a platform for increased cooperation and economic growth.