22 March 2022 04:26 am Views - 296
By Kelum Bandara
Chinese Ambassador Qi Zhenhong said yesterday that Sri Lanka would secure better market access for its products in China, if the proposed free trade agreement (FTA) were signed.
He said China has signed FTAs with 26 countries and regions.China is the second largest trading partner of Sri Lanka, with the balance of trade heavily in favour of China. In 2021, the bilateral trade volume reached US $ 5 billion between the two countries, an increase of 32 percent from 2020. Sri Lanka’s exports to China stood at US $ 274 million, up by 23 percent compared to the previous year.
The Chinese envoy said Sri Lankan products such as tea, gems, jewellery and textiles are popular among people in his country.
The two countries have conducted six rounds of negotiations on the FTA. The next round is expected to be conducted in near future.