Twelfth round of ETCA talks held in Colombo after extended break

After a five-year pause, India and Sri Lanka have resumed discussions on the Economic and Technology Cooperation Agreement (ETCA). 
The 12th round of negotiations for the agreement took place in Colombo this week, Indian media reports said.
After 11 rounds of negotiations conducted between 2016 and 2o18, the talks between the two countries came to a halt amid heavy opposition from Sri Lankan trade unions and professional groups. 

“During this round, both the sides took stock of the progress made till the 11th round and engaged in discussions on various chapters, including trade in goods, technical barriers to trade, sanitary and phytosanitary measures, trade in services, custom procedure and trade facilitation, rules of origin, trade remedies, economic and technology cooperation and dispute settlement. Both sides identified the areas of convergence and areas where they need to find creative solutions,” an official release said.

“During this round, both sides reviewed the progress on implementation and decided to drop nine issues as being resolved. Issues such as the quota on apparel and pepper and the procurement of pharmaceuticals were also discussed and both sides decided to continue the discussion and explore new options for resolution of the matter,” it added.

“On the proposed ETCA, both sides agreed on the need to build on progress made in past, while revisiting their positions wherever possible to reflect new developments. The conclusion of the negotiations is expected to open new opportunities for trade and economic cooperation for both countries. The India-Sri Lanka ETCA will be a pivotal move to further enhance bilateral trade between the two countries. Both sides acknowledged the huge potential in India and Sri Lanka trade partnership and the possibilities for enhanced economic relations in areas of mutual interest,” it further said.