Economic news

Thailand, Sri Lanka sign free trade agreement

2024.02.03 07:32



By Uditha Jayasinghe

COLOMBO (Reuters) -Thailand and Sri Lanka signed a Free Trade Agreement on Saturday, a transfer Sri Lanka hopes will assist it emerge from its worst monetary disaster in many years.

The island nation has been renewing a concentrate on trade offers to foster financial progress and assist its battered economic system, which is estimated by the World Bank to have contracted 3.8% final yr, after a extreme overseas alternate crunch plunged it right into a wider monetary disaster.

The Free Trade Agreement (FTA) is aimed toward enhancing market alternatives, with negotiations overlaying numerous points reminiscent of Trade in Goods, Investment, Customs Procedure and Intellectual Property Rights, the quick assertion added.

A delegation headed by Thai Prime Minister Srettha Thavisin arrived in Colombo on Saturday to sign the FTA together with different agreements and Thavisin can even attend Sri Lanka’s 76th Independence Day celebrations on Sunday.

“This will provide tremendous business opportunities for both sides. We encourage our private sectors to explore the potentials of two-way trade and investment,” Prime Minister Thavisin advised a joint media briefing following the signing.

The two international locations additionally signed a brand new bilateral air providers agreement, offering for liberalized air providers between the 2 international locations.

The international locations’ two-way trade was value about $460 million in 2021, Sri Lankan central financial institution knowledge reveals. Sri Lanka exports primarily tea and valuable stones to Thailand and imports digital gear, meals, rubber, plastics and prescribed drugs.

Source link

Related Articles

Back to top button
bitcoin
Bitcoin (BTC) $ 51,311.75 0.32%
ethereum
Ethereum (ETH) $ 2,973.88 1.72%
tether
Tether (USDT) $ 0.999797 0.06%
bnb
BNB (BNB) $ 382.71 1.51%
solana
Solana (SOL) $ 102.20 0.58%
xrp
XRP (XRP) $ 0.540443 0.37%
staked-ether
Lido Staked Ether (STETH) $ 2,971.00 1.71%
usd-coin
USDC (USDC) $ 1.00 0.08%
cardano
Cardano (ADA) $ 0.59011 0.93%
avalanche-2
Avalanche (AVAX) $ 36.59 1.08%
tron
TRON (TRX) $ 0.138994 0.02%
dogecoin
Dogecoin (DOGE) $ 0.084195 0.82%
chainlink
Chainlink (LINK) $ 18.11 1.12%
polkadot
Polkadot (DOT) $ 7.46 1.78%
matic-network
Polygon (MATIC) $ 0.992295 7.11%
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 51,174.71 0.38%
the-open-network
Toncoin (TON) $ 2.09 0.73%
internet-computer
Internet Computer (ICP) $ 12.69 1.87%
shiba-inu
Shiba Inu (SHIB) $ 0.00001 1.16%
uniswap
Uniswap (UNI) $ 7.35 0.03%
bitcoin-cash
Bitcoin Cash (BCH) $ 261.86 0.08%
litecoin
Litecoin (LTC) $ 68.76 0.63%
dai
Dai (DAI) $ 0.999458 0.13%
immutable-x
Immutable (IMX) $ 3.23 4.78%
filecoin
Filecoin (FIL) $ 8.14 12.50%
kaspa
Kaspa (KAS) $ 0.16657 1.77%
hedera-hashgraph
Hedera (HBAR) $ 0.113286 12.54%
bittensor
Bittensor (TAO) $ 602.92 0.57%
leo-token
LEO Token (LEO) $ 4.11 1.09%
cosmos
Cosmos Hub (ATOM) $ 9.83 0.15%
blockstack
Stacks (STX) $ 2.56 0.90%
ethereum-classic
Ethereum Classic (ETC) $ 25.77 0.62%
optimism
Optimism (OP) $ 3.66 0.23%
aptos
Aptos (APT) $ 9.23 2.39%
near
NEAR Protocol (NEAR) $ 3.24 2.90%
stellar
Stellar (XLM) $ 0.115327 1.44%
vechain
VeChain (VET) $ 0.044564 5.96%
first-digital-usd
First Digital USD (FDUSD) $ 0.999832 0.29%
okb
OKB (OKB) $ 50.89 0.89%
injective-protocol
Injective (INJ) $ 34.17 0.57%
render-token
Render (RNDR) $ 7.57 10.84%
celestia
Celestia (TIA) $ 17.03 0.91%
lido-dao
Lido DAO (LDO) $ 2.99 0.02%
the-graph
The Graph (GRT) $ 0.274743 2.09%
mantle
Mantle (MNT) $ 0.786077 10.29%
crypto-com-chain
Cronos (CRO) $ 0.092721 3.77%
arbitrum
Arbitrum (ARB) $ 1.79 1.02%
monero
Monero (XMR) $ 122.54 0.76%
sei-network
Sei (SEI) $ 0.838918 1.39%
sui
Sui (SUI) $ 1.73 5.32%