Recognising the potential benefits of the FTA, the Government is again reviewing the Sri Lanka-Thai FTA, which will come into effect soon, said Ambassador of Sri Lanka to the Kingdom of Thailand, Wijayanthi Edirisinghe.
“An FTA will lead to increased trade, economic growth, and improved diplomatic ties between the two countries; the Sri Lankan Government expects to finalise the ratification process as soon as possible,” she said.
She told a team of Sri Lankan journalists during a media visit arranged by Thai Airways via their General Sales Agent, MAC Holdings (Pvt) Ltd, that the MoU, leading to the FTA, was signed in February 2024 and received Cabinet approval. “This step marked a milestone in the two countries’ trade relations,” the Ambassador said.
Sri Lanka and Thailand began formal talks in 2018 to sign a Free Trade Agreement (FTA). The FTA would provide a framework for enhancing trade and economic relations between the two countries by reducing tariffs, increasing market access, and fostering stronger business partnerships. Bilateral trade between the two countries is around USD 438 million, with the trade balance favouring Thailand.
Sri Lanka’s exports were USD 124 million, showing an increase. “The FTA will help to increase bilateral trade further.” She also said that the number of tourist arrivals from Thailand to Sri Lanka is gradually increasing. The number of tourists from Thailand increased by 47.2% compared to the corresponding period in 2023, reaching 7,246 tourists in 2024.
She also thanked Thai Airways which operates daily flights to Colombo and MAC Holdings (Pvt) Ltd for actively promoting Sri Lanka as a destination. The number of tourist arrivals from January to April
2025 was 3,467, representing a 16.2% increase compared to 2024.
