Sri Lanka names a free trade zone from Europe to China

Tuesday, 26 April 2016 - 7:35


The government has decided to declare a special free trade zone unifying Europe, China, Singapore and India.

Prime Minister Ranil Wickramasinghe is to make a special announcement in parliament during the month of July regarding the Special free trade zone which is aimed at strengthening the future economic plan of the country.

A spokesperson for the government noted that with the declaration of the new trade zone, Sri Lanka would be able to enter the second largest trade zone.

It was added that Sri Lanka would be introduced as the leading country in the steering process.

With the lifting of the EU fishing ban, 28 countries representing the European Union would be able to enter the Free trade agreement, India via the ETCA agreement and Singapore and China would also be entering the free trade zone.

The government spokesperson added that entrepreneurs would be given the opportunity to perform transactions with the specific currencies used by the nations in the zone.


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