After a lengthy pause, Sri Lanka and India have come together to revive the Economic and Technology Cooperation Agreement (ETCA). 

Accordingly, the 12th Round of negotiations, held in Colombo this week signifies a renewed commitment to enhancing economic and technological cooperation between the two nations.

According to the President’s Media Division (PMD), President Ranil Wickremesinghe's visit to India in July reaffirmed Sri Lanka's dedication to the ETCA. 

Notably, these negotiations had been on hold since 2018.

A 19-member Indian delegation, headed by Shri Anant Swarup, the Chief Negotiator and Joint Secretary of the Department of Commerce in the Ministry of Commerce and Industry of India, visited Sri Lanka for ETCA negotiations. 

On the Sri Lankan side, the representation included the National Trade Negotiating Committee (NTNC), Ministry of Foreign Affairs (MFA), Ministry of Trade, Commerce and Food Security, Ministry of Industries, Department of Trade and Investment Policy, Attorney General’s Department, Department of Commerce, Department of Agriculture, Central Bank of Sri Lanka (CBSL), and Board of Investment (BoI).

The 12th Round of discussions covered a wide range of topics, encompassing goods, services, rules of origin, trade remedies, customs procedures, trade facilitation, technical barriers to trade, sanitary and phytosanitary measures, as well as legal and institutional affairs. 

A dedicated session was also held to address implementation-related issues of the existing India-Sri Lanka Free Trade Agreement (ISFTA).