Indonesia-Sri Lanka PTA to be finalised by December and inked by March 2025 

Co-Spokesman and Minister Bandula Gunawardena 

By Charumini de Silva

The Cabinet of Ministers on Monday reviewed and considered the discussions presented by President Ranil Wickremesinghe, indicating significant progress in the proposed Indonesia-Sri Lanka Preferential Trade Agreement (ISLPTA). 

“The discussions are set to be finalised by December 2024, with both countries aiming to sign the agreement in March 2025,” Cabinet Co-Spokesman and Minister Bandula Gunawardena said at the weekly post-Cabinet meeting media briefing yesterday.

The second trade discussion committee meeting concerning the ISLPTA took place on 15 and 16 July 2024, in Colombo. 

The meeting marked a crucial step towards strengthening economic ties and enhancing trade relations between Indonesia and Sri Lanka.

“The proposed agreement aims to boost bilateral trade by reducing tariffs, increasing market access, and fostering closer economic cooperation,” he added.