Aug 18, 2017

Sri Lanka to enter into PTA with Turkey

On the invitation by the Embassy of the Republic of Turkey in Sri Lanka, a ministerial delegation led by Sujeewa Senasinghe, State Minister of International Trade together with the representatives from Board of Investment (BOI), Joint Apparel Association Forum (JAAF) and Sri Lanka Export Development Board (EDB) are currently in Turkey attending meetings related to trade and investment promotions.

The delegation will also attend the 86th Izmir International Fair opening ceremony and seminar program. State Minister was awarded a ceremonial welcome by the Minister of Trade and Customs and Deputy Minister of Economy in Turkey.

He held very productive meetings with trade chambers in Ankara, Istanbuland Izmir in addition to attending the Izmir International Fair.

.He has proposed to initiate Preferential Trade Agreement (PTA) with Turkey’s aggressive attempts to strengthen economic relations between two countries.

The two parties took stock of all exports and investment engagements especially in textile, tea and boat building sectors.

Turkey is the 16th export destination for Sri Lanka and accounted for 1.5% of total exports from Sri Lanka in 2016.

Total export value from Sri Lanka to Turkey was US$ 154Mn in2016 and total imports from Turkey to Sri Lanka for the same period was US$ 69Mn.