Colombo, July 12 (SocialNews.XYZ) Sri Lanka's cabinet has approved a proposal to enter into a preferential trade agreement with Indonesia as a preliminary step to reach a long-term free trade agreement, a statement from the government information department said.
The statement on Tuesday added that Indonesia has been identified as a trade partner with suitable potential to build profitable trade relations for Sri Lanka, Xinhua news agency reported.
Earlier, Sri Lanka launched a fact-finding mission to explore avenues for an early entry into the Regional Comprehensive Economic Partnership (RCEP) free trade agreement, as announced by the Foreign Ministry in June.
A team of senior officials of the Sri Lankan government concluded the mission to Jakarta, Indonesia, on June 12-14, and Sri Lanka's strong interest in entering into RCEP was well received by ASEAN Secretary-General Kao Kim Hourn, and a number of ambassadors of RCEP members in Jakarta, said the Ministry.
Source: IANS
About Gopi
Gopi Adusumilli is a Programmer. He is the editor of SocialNews.XYZ and President of AGK Fire Inc.
He enjoys designing websites, developing mobile applications and publishing news articles on current events from various authenticated news sources.
When it comes to writing he likes to write about current world politics and Indian Movies. His future plans include developing SocialNews.XYZ into a News website that has no bias or judgment towards any.
He can be reached at gopi@socialnews.xyz