ETCA Talk between India & Srilanka

According to the Press Trust of India bilateral trade between the two countries stood at USD 6 billion in 2015-16 as against USD 7.45 billion in 2014-2015.

The Press Trust of India reported that India and Srilanka  hope to conclude talks on ETCA before the end of 2016.

The matter was discussed during a meeting between Minister of Development Strategies and International Trade Malik Samarawickrama and India’s Commerce and Industry Minister Nirmala Sitharaman.

India’s Ministry of Commerce in a statement said the leaders reviewed the progress of the proposed ETCA between India and Sri Lanka and agreed to expedite the process for an early conclusion of the agreement, preferably before the end of the year.

An Indian delegation is due to visit Sri Lanka in this regard.

The two leaders also agreed that early harvest measures may be negotiated but would come into effect the day the agreement comes into effect.

Ministers Samarawickrama and Sitharaman discussed several issues related to bilateral trade and investment.