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India - Sri Lanka Free Trade Agreement

Area of Cooperation

Goods, Dispute Settlement

Sign Date

January 1, 1998

In Force Date

December 31, 1969

Summary

Trade has grown immensely among the two countries since the signing of a trade agreement. India is the 4th largest investor in Sri Lanka and their economic, political and social relationship remains close. India grants nearly 1/6th of its total development credit to Sri Lanka. Currently both countries are looking to establish a Comprehensive Economic Partnership Agreement.
http://commerce.nic.in/ilfta.htm

Scope

                                                               i.      Bilateral

 
Rules of Origin

                                                               i.      Change in tariff classification

                                                             ii.      Value Added Minimum 35%

                                                            iii.      No specific manufacturing process necessary

 
Contingency

                                                               i.      Safeguards : Allowed

 
News/Studies

                                                               i.      India, Lanka in pact for tariff rate quote”     http://www.thehindubusinessline.com/blnus/01061631.htm

                                                             ii.      India, Sri Lanka Aim to Broaden Free-Trade Agreement”        http://www.bloomberg.com/apps/news?pid=20601091&sid=a_s5wpCC7f8M&refer=india

                                                            iii.      Sri Lanka experiencing vibrant FTA with India      http://www.hindu.com/2007/02/17/stories/2007021723371200.htm

                                                           iv.      “Indo-Sri Lanka Trade in Services: FTA II and Beyond”   http://www.icrier.org/pdf/wp145.pdf

                                                             v.      “Indo-Sri Lanka Free Trade Agreement: Assessing Potential And Impact On Bilateral Trade”           http://www.saneinetwork.net/research/sanei_II/abstract9.asp

                                                           vi.      “Joint Study Group on India-Sri Lanka Comprehensive Economic Partnership Agreement”             http://www.ips.lk/news/newsarchive/2003/20102003_islcepa_final/islcepa.pdf#search=

 
Additional Links

                                                               i.      http://www.worldtradelaw.net/fta/agreements/indsrifta.pdf

                                                             ii.      http://meaindia.nic.in/foreignrelation/srilanka.pdf