Cabinet gives nod to expedite negotiations for PTA with Bangladesh

The Cabinet greenlight has been granted to fast-track negotiations with Bangladesh for the proposed preferential trade agreement (PTA) under the guidance of the International Trade Office. 

With the aim of boosting bilateral trade flows, President Ranil Wickremesinghe on Monday sought the approval of the Cabinet of Ministers to expedite negotiations on the proposed PTA with Bangladesh under the guidance of the International Trade Office.

The initial Cabinet approval was granted for a PTA between Sri Lanka and Bangladesh in June 2021. However, it was delayed as the country plunged into economic and political crisis the following year. 
According to Bangladeshi authorities, negotiations for the proposed PTA have reached an advanced stage by now.

Cabinet Spokesperson Minister Bandula Gunawardana stressed that trade agreements have become a necessary tool in modern global trade to boost exports.