Sri Lanka to join Trans-Pacific Partnership?
Sri Lanka is exploring the possibility of joining the Trans-Pacific
Partnership(TPP), Minister of Foreign Affairs Mangala Samaraweera told a
gathering in the U.S. Institute of Peace in Washington DC on Thursday
that a feasibility study was under way.
"A leading government think tank was preparing a feasibility study
and we will continuously evaluate developments on this front."
Samaraweera said. The TPP which has 12 countries as members, aims at
setting up, market-oriented rules in international commerce and checking
trade and investment barriers.
The US, Singapore, Japan and Australia, are among the
member-countries which signed a pact early this month. According to
estimates, the member-countries account for around 36 percent of the
world's Gross Domestic Product or $ 28 trillion. Eaborating on Sri
Lanka's trade agreements, he said the government was finalising the
formal applications for the GSP+ and hopes to regain the facility by the
end of the year. He added that they are already held discussions to sign
a Free Trade Agreement with China and a concerted effort is also under
way to improve the domestic business climate.