India-Sri Lanka FTA Talks Focusing On Apparel Quotas And Pharmaceutical Procurement

New Delhi, Dec 20 (KNN) India is currently negotiating a free trade agreement with the European Union (EU), the UK, Sri Lanka, and Peru, as per the year-end review statement of the commerce ministry.

An official statement from the ministry said that the India-Sri Lanka Economic and Technology Cooperation Agreement (ECTA) negotiations are ongoing with the 12th round of negotiations conducted from 30th October to 1st November 2023 in Colombo.

It added that both sides also agreed to continue discussions on matters, including apparel quotas and pharmaceutical procurement.

“The India-European Union (EU) free trade agreement negotiations were formally re-launched on June 17 2022. The negotiations cover 23 policy areas/chapters. Six rounds of negotiations have been held till October 2023," the ministry said.

In case of India-UK FTA, 13 rounds of talks have been completed and the next round will take place in January 2024.

With Peru, the discussions on various chapters, including rules of origin, trade in goods, trade facilitation, sanitary, and phytosanitary measures were undertaken during this special round of talks.

(KNN Bureau)