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Sri Lanka Cabinet Approves Proposal on Preferential Trade Agreement With Indonesia

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 on Tuesday.

The statement said that Indonesia has been identified as a trade partner with suitable potential to build profitable trade relations for Sri Lanka.

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 the Association of Southeast Asian Nations (ASEAN) Secretary-General Kao Kim Hourn, and a number of ambassadors of RCEP members in Jakarta, said the ministry.

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