Sri Lanka's cabinet approves proposal to start FTA talks with Malaysia

As attracting export-oriented foreign direct investment (FDI), diversifying exports and expanding market access for goods and services are key to regain economic stability of the country, it is necessary for Sri Lanka to develop economic integration with countries that have strong and strategic economies, a statement issued after the cabinet meeting said.

Malaysia-Sri Lanka trade was worth $934 million in 2023, official data show.

Sri Lanka plans to sign a preferential trade agreement with Indonesia next March, is in talks with Bangladesh on an FTA and has restarted talks to expand an existing agreement with India.

ALCHEMPro News Desk (DS)