A | Colombo, Oct 12 (UNI) Sri Lanka should expedite signing Free Trade Agreements (FTA) with major countries like China and expand the current scope of the FTA with India rather than sign FTAs with small countries, State Minister of External Affairs Tharaka Balasuriya said in remarks published on Wednesday.
“At present India has signed FTAs with several countries and could use Sri Lanka as a spring board to penetrate those markets through India," Balasuriya told The Island Financial Review.
“Sri Lanka has signed FTAs with India, Pakistan and Singapore and is currently negotiating an FTA with China, which would immensely benefit the economy. Both India and China are considered countries with high growth trajectories," he said.
“Sri Lanka imports more than $3.6 billion from China while only $500 million worth exports go to China from Sri Lanka. Therefore, Sri Lanka has to look for an increase in export trade volumes in order to reap real benefit from FTAs.
“Further, India is Sri Lanka’s second largest trading partner with the bilateral merchandise trade amounting to about $3.6 billion," the newspaper quoted him a saying.
"Sri Lankan exports to India have increased substantially since 2000 when the FTA came into force and more than 60 per cent of Sri Lanka’s total exports to India over the past few years have used FTA benefits," the Minister said.
“Interestingly, only about 5 percent of India’s total exports to Sri Lanka in the past few years have used the FTA provisions, thereby indicating their overall competitiveness in the Sri Lankan market.
“Therefore, further expanding the FTA with India will enable Sri Lanka to penetrate other markets, where countries have signed FTAs with India."
The Minister went on: “Sri Lanka regained the European Union’s (EU) Generalized Scheme of Preferences (GSP+) privileges for Sri Lankan exports.
"The trade preferences under GSP+ consists of the full removal of duties on 66 per cent tariff lines, covering a wide array of products including textiles and fisheries. The GSP+ scheme is conditional upon Sri Lanka advancing human and labour rights and on working towards sustainable development.
“Macroeconomic stability and manageable inflation are important barometers for trade with European Union countries. Because of the current 70 per cent food inflation and unstable economic conditions, it will not be feasible to think of smooth trade with EU countries.”
UNI MR。 长江商学院周三公布的8月中国企业经营状况指数（BCI ）录得48.3，较7月的50.1小幅回落。该指数由四个分指数以算术平均的方式构成。本月这四个分指数出现了一升三降的局面。企业销售前瞻指数由上月的60.0升至本月的60.3。企业利润前瞻指数本月为42.1，上月为45.7。企业融资环境指数本月为43.6，上月为44.3。企业库存前瞻指数本月为47.2，上月为50.3。
B | 除上述四项指数，长江商学院在问卷中询问了企业对成本、价格情况的预期。本月企业用工成本前瞻指数出现了微幅下降，上月该指数为70.4，本月为69.8。企业总成本前瞻指数本月出现了微幅上升，上月为70.4，本月为70.9。消费品价格前瞻指数本月出现了小幅下降，上月的指数为46.6，本月为43.9。（界面新闻记者 辛圆）。
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