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Sri Lanka and China finalize FTA before meet
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Sri Lanka and China will finalize a free-trade agreement ahead of a Commonwealth summit in Colombo in November, a government minister said yesterday.
The two sides have been hammering out details of the duty-free goods under the deal, Investment Promotion Minister Lakshman Yapa Abeywardena said in Colombo.
China has been investing heavily in Sri Lanka, with loans and expertise instrumental in building ports, highways, railways and power plants in the Indian Ocean nation.
“We are discussing the agreement right now and we hope to be able to finalize it before the Commonwealth meeting,” Abeywardena said, adding that a Chinese delegation has been in the Sri Lankan capital recently to discuss the deal.
Sri Lanka will host the Commonwealth Heads of Government meeting from November 15 to 17.
Although China will not take part, Sri Lanka is keen to showcase its economic progress since the end of nearly four decades of ethnic war that ended in 2009, and will host a trade forum alongside the meet.
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