Indo - Lanka strike deal on Tea Exports

(January 18, Colombo, Sri Lanka Guardian) The Government of Sri Lanka and the Government of India have reached an agreement on improving access for the country's tea exports to the Indian market.

The most recent Round of Talks between the two countries on a new trade deal concluded in Colombo recently. Both the sides have agreed on the draft text of the agreement, which would now be perused by the respective authorities.

According to the Director General of the Department of Commerce of Sri Lanka, a Mutual Recognition Agreements (MRAs) between the Tea Boards of the two countries would make it easier to ship Sri Lankan tea to India.

With this agreement, the Indian authorities will accept reports from Sri Lankan laboratories designated by the Government. This would eliminate the need for exporters to send samples abroad for testing, thus expediting the process.

Sri Lankan tea exporters are enthusiastic on gaining access to the vast Indian market. The proposed bilateral Comprehensive Economic Partnership Agreement (CEPA), which is an advanced version of the existing Free Trade Agreement (FTA), would markedly improve the bilateral trade.

The CEPA does encompass services and investments among others which are not covered in the currently existing FTA between the two countries