Feasibility Study on Free Trade Zone Jointly Conducted by China and Sri Lanka Concluded
On Mar. 11, 2014, Minister Assistant Mr. Wang Shouwen of Ministry of Commerce of P. R. China met with Standing Secretary Mr. Jaya Sandra,Finance and Planning Dept. of SriLanka in Beijing and jointly declared the completion of Feasibility Study on China-Sri Lanka Free Trade Zone undertaken by two sides.
Sino-Sri Lanka Feasibility Study on Free Trade Zone began in Aug. 2013. Both sides conducted comprehensive and in-depth analysis and research on the feasibility of establishing Sino-Sri Lanka Free Trade Zone. The conclusion is positive. It is believed that the establishment of Sino-Sri Lanka Free Trade Zone is in conformity with the interests of the two countries and is beneficial to further deepen the bilateral economic and trade relationships.
For the time being, China is the second biggest trade partner of Sri Lanka, while the latter is the fourth biggest trade partner of China in South Asia. In 2013, the bilateral trade volume reached USD 3.62 billion. The export volume and the import volume of China reached USD 3.438 billion and USD 0.183 billion respectively.
(Source: News Office, Ministry of Commerce, P. R. China. Released on Mar. 11, 2014)