12th Round of ETCA Negotiations Paves the Way for Prosperity

In a significant development that marks a milestone in Sri Lanka’s economic and technological journey, the 12th Round of Economic and Technology Cooperation Agreement (ETCA) negotiations between Sri Lanka and India took place from the 30th of October to the 1st of November 2023 in Colombo.

Sri Lanka’s vision has always been to integrate with the largest economies in Asia and East Asia, emphasizing export diversification while maintaining and nurturing existing major export markets. The ultimate goal is to connect with key players through the global value chain to boost the country’s economy and improve the living standards of its people.

The discussions during this round of negotiations hold immense promise. The visit of the President of Sri Lanka to New Delhi on  29th of July 2023 set the stage for a renewed commitment to the ETCA, which had been on hold since 2018. Both the Heads of States, representing Sri Lanka and India, agreed to comprehensively enhance bilateral trade and investments, especially in new and priority areas.

A delegation of 19 Indian officials, led by Shri Anant Swarup, Chief Negotiator and the Joint Secretary of the Department of Commerce, Ministry of Commerce and Industry of India,were in Sri Lanka for ETCA.