01. Proposed Preferential Trade Agreement with Bangladesh
It is expected to strengthen relationships with key trade stakeholders at the regional level to develop
market access opportunities for Sri Lankan exporters by removing market barriers and to achieve the
objectives of attracting investment as well as to further enhance economic cooperation as a remedy
for the existing problems related to domestic supply. Simultaneously, cabinet approval was given on
14.06.2021 for entering into a Preferential Trade Agreement between Sri Lanka and Bangladesh. It
has been identified that a preferential trade agreement with Bangladesh can further boost bilateral trade
over existing trade agreements. Accordingly, the proposal made by the Hon. President to speed up
negotiations on the proposed preferential trade agreement with Bangladesh under the guidance of the
International Trade Office was approved by the Cabinet of Ministers.
02. Expediting the inspections and investigations in relation to goods detained by Sri Lanka
Customs
It has been observed that it takes a long time to complete the inspections, investigations and other
related procedures carried out by the Sri Lanka Customs on the goods detained by it. As a result, there
are many economic losses including damages to and decay of the goods, so the existing procedures
followed by the customs concerning the said goods should be expedited. Accordingly, the Cabinet of
Ministers approved the measures taken by the Hon. President to appoint a ministerial committee with
the following composition to study the issues and identify the amendments to be made to the Customs
Ordinance if necessary and make recommendations thereon.
• Hon. Nimal Siripala de Silva
Minister Ports, Shipping and Aviation
• Hon.(Dr) Ramesha Pathirana
Minister of Plantation Industry and Industries
• Hon. Ranjith Siyambalapitiya
State Minister of Finance
• Hon. Dilum Amunugama
State Minister of Investment Promotions
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Cabinet Decision on 27.02.2023 (English)
