Indonesia ready to discuss preferential trade deal with Sri Lanka

Indonesia is ready to discuss a preferential trade deal with Sri Lanka, Indonesian President Joko Widodo has said.

Widodo held bilateral talks with President Ranil Wickremesinghe on the sidelines of the Belt & Road Forum for International Cooperation in Beijing, China.

During the meeting, President Jokowi and President Wickremesinghe discussed increasing cooperation between the two countries in various fields.

In the economic sector, President Jokowi welcomed Sri Lanka’s desire to form a preferential trade agreement with Indonesia. Based on data, the trade volume between Indonesia and Sri Lanka fell by 27.5 percent in 2022, so joint efforts are needed to increase the value of trade between the two countries, the Indonesian President’s office said.

“For this reason, I welcome Sri Lanka’s desire to form a preferential trade agreement with Indonesia,” the Indonesian President said.

President Ranil Wickremesinghe highlighted Sri Lanka’s ongoing efforts to establish free trade agreements with various Asian countries and to formalize the existing agreement with India.  (Colombo Gazette)