Sri Lanka aims for RCEP Membership and Free Trade Agreements with ASEAN

President Ranil Wickremesinghe while addressing the 56th anniversary celebrations of the Association of South East Asian Nations (ASEAN) held at the Embassy of the Republic of Indonesia, Colombo on Tuesday (8), revealed that Sri Lanka’s intention to join the Regional Comprehensive Economic Partnership (RCEP) is to materialize following the conclusion of credit optimization initiatives. Additionally, the President announced plans to initiate negotiations for the establishment of free trade agreements with corresponding ASEAN member countries.

President Wickremesinghe’s statement underscores the country’s determination to bolster its economic connectivity within the broader Asian region. The President affirmed his alignment with the future vision of ASEAN for the Indo-Pacific area, pledging full support for the advancement of this strategic perspective.

These proposed collaborations highlight Sri Lanka’s commitment to fostering economic cooperation and trade linkages, which will open new avenues for growth and development.