The 12th round of negotiations on the Economic and Technology Cooperation Agreement (ETCA) took place in Colombo, Sri Lanka, from October 30th to November 1st, 2023. Prior to this, the two countries had engaged in 11 rounds of bilateral talks between 2016 and 2018, after which the negotiations were temporarily halted.
Highlights of the 12th Round of ETCA Negotiations:
- Both sides reviewed progress till the 11th round and discussed multiple chapters, including Trade in Goods, Technical Barriers to Trade, and Sanitary and Phytosanitary Measures.
- Discussions also encompassed Trade in Services, Custom Procedure & Trade Facilitation, Rules of Origin, Trade Remedies, Economic & Technology Cooperation, and Dispute Settlement.
- Identified areas of convergence and acknowledged the need for innovative solutions in certain areas.
- Reviewed implementation progress and successfully resolved 9 issues, leading to their removal from the discussion table.
- Discussed issues such as apparel and pepper quotas, as well as pharmaceutical procurement, deciding to further explore alternative solutions for resolution.
Regarding the suggested ETCA, both parties concurred on the importance of leveraging past advancements, while also reassessing their stances to incorporate any recent developments. The culmination of the negotiations is anticipated to unveil fresh prospects for trade and economic collaboration between both nations. The India-Sri Lanka ETCA is poised to be a significant step towards bolstering bilateral trade. Both parties recognized the considerable potential within the India-Sri Lanka trade partnership and the prospects for strengthening economic ties in areas of shared interest.
The Sri Lankan delegation was led by Mr. K J Weerasinghe, Chief Negotiator and the Indian delegation was led by Shri Anant Swarup, Joint Secretary in the Department of Commerce, Government & Chief Negotiator.
