NCE Strengthens Regional Trade Ties with India

COLOMBO (News 1st); The National Chamber of Exporters of Sri Lanka (NCE) has entered into a landmark partnership with the Federation of Indian Export Organisations (FIEO).

This marks a significant step toward strengthening bilateral trade and expanding export opportunities for Sri Lankan businesses.

The NCE signed a Memorandum of Understanding (MoU) with FIEO, opening doors for enhanced cooperation between Sri Lankan and Indian exporters. 

This partnership is expected to create new opportunities for trade, knowledge-sharing, and capacity building, while also enhancing the international competitiveness of exporters in both countries.

The signing of this MoU was made possible with the support and facilitation of the High Commission of India in Colombo.

Strong Bilateral Trade Relations:

India is one of Sri Lanka’s largest trading partners, with bilateral trade covering a diverse spectrum of goods and services including textiles and apparel, agricultural products, food and beverages, rubber-based products, machinery, ICT services, and more. Sri Lankan exporters benefit significantly from access to the vast Indian market, while Indian businesses continue to view Sri Lanka as a strategic gateway to South Asia and beyond.

Trade ties between the two countries are further underpinned by the India–Sri Lanka Free Trade Agreement (ISFTA), which was signed in 1998 and came into force in 2000. The ISFTA was the first bilateral free trade agreement signed by Sri Lanka, and it provides duty concessions and preferential market access for a wide range of goods. Over the years, the FTA has enabled thousands of product lines from both countries to enjoy tariff reductions or duty-free entry, facilitating greater trade volumes and encouraging cross-border investments.

Next Steps: Business Delegation to India:

As a practical step forward, the NCE, in coordination with FIEO, is preparing to organize a business delegation to India. The program will include a high-level Business Forum, designed to provide Sri Lankan exporters with a platform to connect with potential Indian partners, expand market access, and explore new opportunities in one of the fastest-growing economies in the world.

Building Sustainable Trade Partnerships

This initiative reflects the NCE’s ongoing commitment to its members—helping them expand their global footprint, diversify markets, and build sustainable trade partnerships. By leveraging the advantages of the India–Sri Lanka Free Trade Agreement and the institutional support of both NCE and FIEO, exporters on both sides stand to gain from deeper collaboration, ultimately contributing to the long-term economic growth of the region.