By The Pulseline News Desk
President Anura Kumara Dissanayake has announced plans to pursue new Free Trade Agreements (FTAs) and expand existing trade arrangements as the Government seeks to strengthen Sri Lanka’s access to international markets and attract foreign investment.
Presenting the 2027 Budget in Parliament today (12), the President said the Government was looking to deepen trade relations with key economic partners, including China and India, while exploring expanded trade opportunities with Oman and the United Arab Emirates (UAE).
As part of the initiative, the Government has appointed a committee to oversee efforts to expand Sri Lanka’s existing FTA with India.
The move is aimed at strengthening bilateral trade ties and creating greater opportunities for Sri Lankan businesses to access the Indian market.
Meanwhile, Sri Lanka is exploring the possibility of entering into a new FTA with China, potentially opening further opportunities for trade and investment between the two countries.
The President said expanding trade agreements with other countries was increasingly important as Sri Lanka navigated changing global economic conditions, emerging challenges and new commercial opportunities.
He stressed that strengthening existing agreements while negotiating new ones would be essential to improving access to overseas markets and positioning Sri Lanka within an increasingly competitive international trading environment.
The proposed initiatives form part of the Government’s broader 2027 Budget strategy to expand international economic partnerships, diversify export markets and attract foreign investment.
Sri Lanka’s ability to translate these agreements into tangible economic benefits will depend on the terms negotiated, market access secured for domestic exporters and the country’s capacity to improve export competitiveness.
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