Does the China-SL FTA pose risks?

Does the China-SL FTA pose risks?

Does the China-SL FTA pose risks?

Written by Amani Nilar

17 Mar, 2022 | 7:29 pm

COLOMBO (News 1st); While signing loan agreements with India for the purchase of oil, food and medicine, China is also preparing to expedite a free trade agreement with Sri Lanka, which will seriously affect the country’s domestic industries.

A statement issued by the Sri Lankan Embassy in China yesterday (16) stated that the decision to expedite the agreement was taken at a meeting of the Ministerial Sub-Committee on International Trade.

The status of trade transactions between the two countries was also cited in the announcement, which mentioned that China sent $ 4700 million worth of goods to Sri Lanka last year, while Sri Lanka has sent $ 274 million worth of trade goods to China.

However, questions remain as to whether Sri Lanka, which already imports a large quantity of goods from China, compete with the Chinese market by entering into a free trade agreement, and what the fate of our country’s local industries be if these undrafted agreements are signed soon.

Latest News

Are you interested in advertising on our website or video channel
Please contact us at [email protected]