Decisions taken by the Cabinet of Ministers on 27.02.2023

  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     Click here to view the document Cabinet Decision on 27.02.2023 (English)