COLOMBO, Jan. 25 (Xinhua) -- Sri Lanka's cabinet has granted approval presented by President Ranil Wickremesinghe to sign a free trade agreement (FTA) with Thailand, the government's information department said on Thursday.
The department, in a statement listing out the cabinet decisions taken at a meeting on Wednesday, said the development of supply capacity, attracting export-oriented foreign direct investment and expanding international market access for Sri Lankan goods and services had been identified as strategies essential for the country's economic growth.
The cabinet of ministers approved in 2018 to start negotiations on an FTA with Thailand.
The National Trade Negotiations Committee has also exchanged views with all relevant local stakeholders during the negotiation process.
After nine rounds of discussions between the two sides, a complete 14-chapter draft FTA was prepared, including measures to improve trade and investment, compliance with local laws and regulations and facilitating knowledge sharing. ■
