Sri Lanka and Thailand Sign Landmark Free Trade Agreement

The agreement aims to bolster economic recovery for Sri Lanka, grappling with its worst economic crisis, and enhance bilateral trade and investment.

Sri Lanka has signed a free trade agreement with Thailand to boost trade and investment, marking a significant step towards economic recovery.
The Sri Lanka Thailand Free Trade Agreement covers trade in goods, investment, customs procedures, and intellectual property rights.
Negotiations for the agreement began in 2016, aiming to increase bilateral trade from $352 million in 2022 to $1.5 billion.
The agreement is expected to promote investment in sectors like fisheries, food processing, tourism, and green energy, with Thailand resuming daily flights to Sri Lanka next month.
Sri Lanka, facing a severe economic crisis since April 2022, is also in talks with India and China on trade agreements, seeking to restructure $17 billion of its outstanding debt.