Indo-Lankan FTA has boosted trade: Peiris

Chennai, Dec 19 (UNI) Sri Lankan Minister for Export Development and International Trade G L Peiris said the Free Trade Agreement (FTA) signed between India and Sri Lanka in March 2000 has resulted in surge of investment flows in both the countries.

In his address during an interactive session on Sri Lankan Trade and Investment organised by the Federation of Indian Chambers of Commerce and Industry (FICCI) here yesterday, Professor Peiris said recent investments from Sri Lanka have taken place in food processing, freight and forwarding and textiles and garments.

Stating there was immense scope to boost trade between the two countries, the Minister identified leather, spices, gems and jewellery as areas of potential.

''The General Agreement on Trade and Services (GATS), which has been entered into by both the countries in 1998, has brought substantial benefits,'' he said.

He also explained at length the benefits of the Comprehensive Economic Partnership Agreement (CEPA).

UNI