Colombo: India and Sri Lanka have reinitiated negotiations for the Economic and Technology Cooperation Agreement (ETCA). The 12th round of discussions took place in Colombo, Sri Lanka, from October 30, 2023, to November 1, 2023, following 11 rounds of bilateral talks held between the two nations from 2016 to 2018. Subsequently, negotiations were temporarily suspended.
Leading the Sri Lankan delegation was K J Weerasinghe, Chief Negotiator, while the Indian delegation was headed by Anant Swarup, Joint Secretary in the Department of Commerce and Chief Negotiator.
During this round of negotiations, both sides assessed the progress made up to the 11th round and engaged in deliberations on various topics, including Trade in Goods, Technical Barriers to Trade, Sanitary and Phytosanitary Measures, Trade in Services, Customs Procedures & Trade Facilitation, Rules of Origin, Trade Remedies, Economic & Technology Cooperation, and Dispute Settlement. The delegations identified common ground and areas where innovative solutions are needed.
The progress on implementation was reviewed, leading to the resolution of 9 issues. Discussions encompassed matters such as the quota on apparel and pepper, as well as pharmaceutical procurement, with both sides agreeing to continue the dialogue and explore fresh resolutions.
Regarding the proposed ETCA, both parties concurred on the importance of building upon past progress while revisiting their stances where possible to accommodate new developments. The conclusion of these negotiations is anticipated to usher in new opportunities for trade and economic collaboration for both countries. The India-Sri Lanka ETCA is expected to play a pivotal role in further enhancing bilateral trade. Both sides acknowledged the significant potential in the India-Sri Lanka trade partnership and the prospects for intensified economic relations in areas of mutual interest.