Advantages And Disadvantages Of Pakistan Sri Lanka Free Trade Agreement

Environmental protection measures can prevent the destruction of natural resources and crops. Labour laws prevent poor working conditions. The World Trade Organization enforces free trade agreements. The main criticism of free trade agreements is that they are responsible for the outsourcing of employment. There are seven drawbacks in total: the list of instant concessions includes a total of 206 six-figure HS tariff lines (products) and Sri Lanka immediately enjoys 100% duty-free access for these products in the Pakistani market. Free trade agreements are treaties that govern customs duties, taxes and tariffs imposed on countries on their imports and exports. The most well-known regional trade agreement in the United States is the North American Free Trade Agreement. Sri Lanka has granted Pakistan a tariff quota of 6,000 m/t of basic rice and 1,000 m/t of potatoes per calendar year (January to December). However, the importation of potatoes is only allowed during the low season from Sri Lanka. (2/3 in June-July and 1/3 in October-November each year).

Dr. Saman Kelegama, Executive Director of the Institute of Policy Studies, V. S. Sidath Kumar, Deputy Director of General Trade, Department of Commerce and Mariam Saeed, Business Officer of the High Commission of the Islamic Republic of Pakistan. The Free Trade Agreement between Sri Lanka and Pakistan was signed in August 2002 and implemented in June 2005. With the growing importance of economic development, free trade agreements (FTA) are seen as key drivers of trade between nations. The seminar was designed to improve the understanding and opportunities offered by the optimization of the free trade agreement. The seminar was threefold; Dr..