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


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)



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