📈 Sri Lanka Cabinet Approves Panel to Review FTAs and Guide New Trade Deals

Sri Lanka’s Cabinet has approved establishing a National Trade Negotiation Committee to review existing trade deals, amend unfavorable clauses, and lead future bilateral or regional trade negotiations. • New Governance Framework: • Secretary to the Ministry of Trade appointed as Committee Chairman and Chief Negotiator. • Establishment of 12 subject-specific sub-committees and technical working groups. • Formation of a Trade Policy Advisory Committee comprising trade experts, researchers, business leaders, and civil society. • Strategic Trade Direction: • Aims for an evidence-based, sequential approach to future Free Trade Agreements (FTAs) while ensuring structured stakeholder consultations. • Reviews apply broadly to all existing and future deals, including key regional negotiations with India (ETCA) and China. • Context & Regional Evolution: • Extends Sri Lanka’s trade journey from its 1998 India FTA to recent integration with Southeast Asia (Singapore 2018, Thailand 2024). • Addresses persistent domestic concerns over service liberalization (ETCA) and seeks trade safeguards to balance asymmetric deficits (China).