ශ්‍රී ලංකා ප්‍රජාතාන්ත්‍රික සමාජවාදී ජනරජයේ තානාපති සහ නිත්‍ය නියෝජිත කාර්යාලය, බැංකොක්, තායිලන්ත රාජධානිය

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Home 5 Press Releases 5 Sri Lanka Targets March 2024 to Formalize FTA With Thailand

Sri Lanka Targets March 2024 to Formalize FTA With Thailand

Deputy Prime Minister and Minister of Commerce Phumtham Wechayachai of the Kingdom of Thailand joins as Guest of Honour at Celebrations of the 76th Anniversary of Sri Lanka’s Independence at the Siam Society under the Royal Patronage in Bangkok on 09th February 2024

Deputy Prime Minister and Minister of Commerce Phumtham Wechayachai of the Kingdom of Thailand joins as Guest of Honour at Celebrations of the 76th Anniversary of Sri Lanka’s Independence at the Siam Society under the Royal Patronage in Bangkok on 09th February 2024

After signing Sri Lanka – Thailand Free Trade Agreement (SLTFTA) on 3 rd February 2024 in Colombo, and making new era of Sri Lanka – Thailand bilateral relations, Deputy Prime Minister and Minister of Commerce Phumtham Wechayachai, joined as Guest of Honour at Celebrations of Sri Lanka’s 76th Anniversary of Independence in Bangkok held at the Siam Society under the Royal Patronage in Bangkok on 09 th February 2024 organized by the Embassy and Permanent Mission of Sri Lanka in Thailand.

Prime Minister Srettha Thavisin successfully concludes Official Visit to Sri Lanka, 3-4 February 2024

Prime Minister Srettha Thavisin successfully concludes Official Visit to Sri Lanka, 3-4 February 2024

Prime Minister Thavisin was in Sri Lanka on an invitation extended by President Ranil Wickremesinghe, to participate at the 76th Anniversary celebrations of Sri Lanka’s Independence as Guest of Honour and to witness the signing of the Sri Lanka – Thailand Free Trade Agreement (SLTFTA). In addition, both parties renewed the Air Services Agreement which was originally signed in 1950 and entered into a MoU on cooperation in the Gems and Jewellery sector. The Prime Minister was accompanied by the Deputy Prime Minister and Minister of Commerce, Deputy Minister of Foreign Affairs, the Permanent Secretary of Foreign Affairs and other senior dignitaries of the Thai Government and a high-level business delegation.

Sri Lanka Targets March 2024 to Formalize FTA With Thailand
Sri Lanka is moving forward with plans to bolster its trade relations as it aims to finalize free trade negotiations with Thailand by February 2024 and formally sign an agreement in March.

Having secured a substantial US$3 billion package from the International Monetary Fund (IMF) in March, Sri Lanka is now focusing on expanding trade opportunities to stimulate economic growth. Negotiations between Sri Lanka and Thailand have already progressed through five rounds of talks, with the most recent discussions held in July.

Cabinet Spokesperson Bandula Gunawardena announced that the proposed free trade agreement (FTA) with Thailand is just one of several deals that Sri Lanka is actively negotiating to facilitate its economic recovery and return to a sustainable growth trajectory.

In addition to the ongoing talks with Thailand, Sri Lanka is looking to initiate free trade discussions with Indonesia and reopen negotiations with its neighboring economic powerhouse, India, to further develop and enhance an existing trade agreement.

Sri Lanka has also expressed keen interest in revisiting negotiations for a free trade deal with China.

As negotiations with Thailand progress, Sri Lanka said it remains hopeful that the culmination of these efforts will usher in a new era of economic prosperity, open up new avenues for trade, and enhance its position in the global marketplace.

Deputy Prime Minister and Minister of Commerce Phumtham Wechayachai of the Kingdom of Thailand joins as Guest of Honour at Celebrations of the 76th Anniversary of Sri Lanka’s Independence at the Siam Society under the Royal Patronage in Bangkok on 09th February 2024

Deputy Prime Minister and Minister of Commerce Phumtham Wechayachai of the Kingdom of Thailand joins as Guest of Honour at Celebrations of the 76th Anniversary of Sri Lanka’s Independence at the Siam Society under the Royal Patronage in Bangkok on 09th February 2024

After signing Sri Lanka – Thailand Free Trade Agreement (SLTFTA) on 3 rd February 2024 in Colombo, and making new era of Sri Lanka – Thailand bilateral relations, Deputy Prime Minister and Minister of Commerce Phumtham Wechayachai, joined as Guest of Honour at Celebrations of Sri Lanka’s 76th Anniversary of Independence in Bangkok held at the Siam Society under the Royal Patronage in Bangkok on 09 th February 2024 organized by the Embassy and Permanent Mission of Sri Lanka in Thailand.

Prime Minister Srettha Thavisin successfully concludes Official Visit to Sri Lanka, 3-4 February 2024

Prime Minister Srettha Thavisin successfully concludes Official Visit to Sri Lanka, 3-4 February 2024

Prime Minister Thavisin was in Sri Lanka on an invitation extended by President Ranil Wickremesinghe, to participate at the 76th Anniversary celebrations of Sri Lanka’s Independence as Guest of Honour and to witness the signing of the Sri Lanka – Thailand Free Trade Agreement (SLTFTA). In addition, both parties renewed the Air Services Agreement which was originally signed in 1950 and entered into a MoU on cooperation in the Gems and Jewellery sector. The Prime Minister was accompanied by the Deputy Prime Minister and Minister of Commerce, Deputy Minister of Foreign Affairs, the Permanent Secretary of Foreign Affairs and other senior dignitaries of the Thai Government and a high-level business delegation.