The Sri Lankan delegation was led by KJ Weerasinghe, chief negotiator, and the Indian delegation was led by Anant Swarup, joint secretary in the department of commerce, government and chief negotiator, the ministry of commerce and industry said in a press release.
During this round, both the sides took stock of the progress made till the 11th round and engaged in discussions on various chapters including trade in goods, technical barriers to trade, sanitary and phytosanitary measures, trade in services, custom procedure and trade facilitation, rules of origin, trade remedies, economic and technology cooperation, and dispute settlement. Both sides identified the areas of convergence and areas where they need to find creative solutions.
During this round, both sides reviewed the progress on implementation and decided to drop 9 issues as being resolved. Issues such as the quota on apparel were also discussed and both sides decided to continue the discussion and explore new options for resolution of the matter.
On the proposed ETCA, both sides agreed on the need to build on progress made in the past, while revisiting their positions wherever possible to reflect new developments. The conclusion of the negotiations is expected to open new opportunities for trade and economic cooperation for both countries.
Both sides acknowledged the huge potential in the India and Sri Lanka trade partnership and the possibilities for enhanced economic relations in areas of mutual interest.
ALCHEMPro News Desk (NB)
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