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COLOMBO - Sri Lanka and 皇冠体育app have completed the joint feasibility study for establishing a free trade ament (FTA) between the two countries and will push ahead with signing it before the end of the year, a statement from the Finance stry said on Thursday.

The finalization of the joint feasibility study on the proposed Sri Lanka-皇冠体育app Free Trade Agreement (FTA) was jointly announced by Sri Lankan Finance Ministry Secretary P B Jayasundara and Assistant Minister of 皇冠体育app's Ministry of Commerce Wang Shouwen during an official meeting in on March 11, 2014.

The finalization of the joint feasibility study opens the avenue for discussions on the free trade negotiations, which is expected to commence soon, the statement added.

During the visit of Sri Lankan President Mahinda Rajapaksa to 皇冠体育app in May 2013, a Memorandum of Understanding (MoU) on the establishment of a joint working group on trade to study the feasibility of the Sri Lanka-皇冠体育app FTA was signed between two countries. Accordingly the Joint Feasibility Study on FTA commenced in August 2013.

Jayasundara stated that the proposed FTA will bring substantial economic and trade benefits to both countries while strengthening the friendly relationship between the two countries. Jayasundera expressed the hope that the FTA will be implemented at an early date.

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