November 17, 2022
1 min read

Ranil directs to implement suspended Sri Lanka-Singapore FTA

President Wickremesinghe made the instructions during a discussion with officials related to foreign policy, trade, legal and other areas…writes Susitha Fernando

Sri Lanka President Ranil Wickremesinghe on Wednesday directed to implement the suspended Singapore-Sri Lanka Free Trade Agreement (FTA) immediately.

President Wickremesinghe made the instructions during a discussion with officials related to foreign policy, trade, legal and other areas.

“The existing problems in this regard were discussed at length and the President highlighted the need to provide quick solutions to all the existing problems,” President’s Media Division said in a statement.

In September, Wickremesinghe who met Singapore Prime Minister Lee Hsien Loong in Tokyo on the side-lines of a state funeral for the slain PM Shinzo Abe had assured that 2018 pact signed when he was the Prime Minister would be revived.

Penned in January 2018, the free-trade pact between the two island nation was suspended due to severe objections from Sri Lanka’s opposition parties, trade unions and other professional bodies.

Flag of Sri Lanka



In May 2021, Sri Lanka tried to revive it with a number of amendments but it was not successful.

Signed on January 23 after 18 months of negotiations between the two countries, Sri Lanka-Singapore Free Trade Agreement (SL-SFTA) was considered a ‘giant leap’ in terms of implementation and laying down of a marker that Sri Lanka was moving into a new era of international trade.

The pact was to cover areas such as Goods, Services, Investments, Rules of Origin, Intellectual Property rights, Customs Procedure and Trade Facilitation, Government Procurement, Trade Remedies, Economic and Technical Cooperation, Dispute Settlement, Telecommunications and E-commerce.

Meanwhile the Non-Resident High Commissioner of Singapore, Chandra Das is to meet President Ranil Wickremesinghe during his visit to Sri Lanka from November 13-18.

Accompanied by a business delegation from Singapore, the High Commissioner met Foreign Minister Ali Sabry on Tuesday and he is to meet a number business and trade related officials.

ALSO READ: JOYLAND: A victim of Transphobia in Pakistan 

Previous Story

Sharif says terrorism is Pakistan’s foremost problem

Next Story

Nalini urges Centre to release 4 Lankan nationals from Trichy camp

Latest from -Top News

Von der Leyen Faces Twin No-Confidence Votes

The two bids have one common thread which is criticism over the European Union-US trade deal and the disfavourable terms it has placed on European exporters….reports Asian Lite News European Commission President

India-EU Trade Talks Resume

The proposed India-EU FTA covers 23 policy areas, or chapters, of which at least two – market access and rules of origin – have yet to be resolved….reports Asian Lite News India

India Launches Relief Ops in Bhutan

The Royal Government of Bhutan has expressed sincere gratitude to the Indian Army…reports Asian Lite News Amid unprecedented floods caused by a low-pressure system over the Bay of Bengal, relentless rainfall has
Go toTop

Don't Miss

India’s PhonePe Debuts in Lanka

PhonePe announced that it has enabled UPI payment acceptance in

World Bank assures support to Lanka’s development plan

World Bank also assured Lanka to provide further guidance and