‘Long-awaited India-Sri Lanka eco and tech deal to be signed in FY25’

livemint.com:

New Delhi: India and Sri Lanka may conclude their long-awaited economic and technology cooperation agreement (ETCA) in FY25, two people aware of the matter said. The ETCA, which builds on an earlier free trade agreement (FTA) implemented in 2000, will enhance bilateral trade between the neighbours. India and Sri Lanka re-launched talks on the ETCA in November 2023 after about a five-year hiatus as both sides are keen to deepen the economic relationship between them.

The last round was held in January. “There is a willingness from both India and Sri Lanka to get the agreement done. Talks are progressing swiftly," said the first person mentioned above, who spoke under the condition of anonymity.

“This ECTA could be concluded during 2024-25," they added. Maintaining good trade and diplomatic relations in the region is key for India as it seeks to counter China. So far, India and Sri Lanka have held 13 rounds of talks.

During the latest round, officials assessed the state of play thus far and discussed chapters on rules of origin, dispute settlement, technical and non-technical barriers to trade, among other matters. Spokespersons of the ministries of external affairs and commerce didn’t respond to emailed queries. “The 13th round of ETCA negotiations was concluded last month and now in the process of scheduling the next round in Sri Lanka.

While substantial progress has been made, the further way forward will be decided at the next round of negotiations on both ETCA & Bilateral Investment Agreement," the Sri Lankan High Commission said in response to a query from Mint. Further rounds are expected to be slotted after the general elections. During November, India and Sri Lanka, while reviewing the progress of the ETCA,