Thailand signs free trade agreement with Sri Lanka

Thailand signs free trade agreement with Sri Lanka

THAILAND expressed its willingness to enhance bilateral trade with Sri Lanka through the signing of a free trade agreement with its South Asian neighbor.

Thai Prime Minister Srettha Thavisin was warmly received by Sri Lankan officials as he arrived in the capital city of Colombo for talks.

The visit last week resulted in the signing of a Free Trade Agreement (FTA) held during the commemoration of Sri Lanka’s 76th Independence Day.

The deal gives Thai investors access to invest 100% across 35 sectors in the South Asian country.

Thavisin described Sri Lanka as a country of great importance to many world powers.

The Thai prime minister hailed the development of the Port City Colombo project which kicked off in 2014 and was designed to create a financial institution hub in the Indian Ocean.

The agreement includes the signing of air navigation services and talks for visa exemptions between the two neighboring countries.

Srettha traveled to Colombo at the invitation of Sri Lankan President Wickremesinghe.

Sri Lanka hopes the free trade deal with Thailand will help boost its economy hit by crisis since 2019.

 

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