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Bangladesh and Sri Lanka to sign FTA
Agencies - Dhaka
Bangladesh and Sri Lanka have agreed in principle to
enter into a free trade agreement by next year. The first round of meeting between
the two countries held at the joint secretary level on the FTA issue concluded
in an atmosphere of cordiality, according to media reports.
Ms Manel De Silva, leader of the three-member Sri Lanka
delegation at the FTA talks said both Bangladesh and Sri Lanka will benefit
from the FTA. The meeting ended with “positive outcome and I am optimistic
about FTA in force next year,” she told reporters. She said the FTA would
help narrow the gap and expand the areas of cooperation between the two countries.
Bangladesh and Sri Lanka have set the modalities for
a comprehensive FTA after agreeing to simplified and relaxed rules of origin,
a negative list of products and a phase-out period of tariff skewed in favor
of Dhaka, ‘The Financial Express’ newspaper reported.
Sources said Sri Lanka agreed to accord preferential
treatment of LDC to Bangladesh which was sought by the host.
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