Thailand, Sri Lanka to sign trade pact

Business

Thailand and Sri Lanka are set to sign a free trade agreement (FTA) later this year, aiming to triple bilateral trade to UScopy.5 billion (52.5 billion baht) over the next five years.

Deputy Prime Minister Somkid Jatusripitak, who met with Malik Samarawickrama, Sri Lanka's Development Strategies and International Trade Minister, yesterday said the two countries aimed to sign the FTA this August, when he is scheduled to lead Thai investors to visit Sri Lanka, the Bangkok Post reported.

Mr Somkid said he also proposed that Thailand and Sri Lanka conduct parallel strategic cooperation in certain areas which will expedite mutual economic benefits for the two countries, as FTAs require time for negotiations.

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