Thailand Proposes FTA with Sri Lanka
10 March 2016
Thailand is proposing a Free Trade Agreement (FTA) with Sri Lanka, according to Thailand Deputy Prime Minister for Economic Affairs, Dr. Somkid Jatusripitak. The Deputy Prime Minister highlighted how the FTA will bring in a new era of mutual cooperation and prosperity as he addressed the Business Forum organized by Sri Lanka's Export Development Board.
The two countries have signed 3 memorandums of understanding and letters of intent that present fresh opportunities in sectors including pharmaceuticals, fruits and vegetables, and automation, with the intent of tripling their bilateral trade by 2020, to bring it from $500 million to $1.5 million in 5 years.