Sri Lanka should strike trade deals with China, ASEAN to access Asia: EDB Chief

ECONOMYNEXT – Sri Lanka should sign free trade deals with China and the Association of East Asian Nations to boost exports to Asia, newly appointed head of the island’s Export Development Board Prabhash Subasinghe said.

Sri Lanka has been negotiating a free trade deal with China for several years, and efforts must be made to complete it, he said.

The bulk of Sri Lanka’s exports were going to the West.

“We should sign a trade agreement with ASEAN region to get duty free access to Asia,” Subasinghe told reporters in Colombo.

“We trade with the US and EU, but we do not trade much with Asia. For us to plug into the region we need free trade agreements.”

Subasinghe who owns a solid tyre manufacturing company exporting to multiple countries was appointed by President Gotabaya Rajapksa as head of the EDB.

He said there were problem facing exporters that had to be cleared. (Colombo/Jan30/2020)