Trade Agreements Between Australia And Sri Lanka

Australia`s main exports to Sri Lanka are vegetables, dairy products, wheat and flour, lentils and paper products. In recent years, Austrade`s efforts to increase sri Lankan importers` attention to Australia`s premium food and beverage sector have led to a wider range of new products in the supermarket supply chain. There are ways to increase Australian trade with Sri Lanka in a number of niches. A comprehensive overview of political, economic, bilateral and regional trade agreements. Australia`s trade policy remains based on the premise that trade openness, economic growth and improved living standards are closely linked; The focus is on improving international competitiveness and market access abroad. Australia takes a combined multilateral, regional, bilateral and unilateral approach to trade policy and is exemplary in the transparency of its trade regime. The education sector plays an important role in bilateral relations between Australia and Sri Lanka. Australia is the second largest and most popular destination for Sri Lankan international students with around 11,000 Sri Lankan students studying in Australia in 2018. Australia`s bilateral trade and services relationship with Sri Lanka is estimated at UAD 973 million as of 2016. Australia`s trade and services exports to Sri Lanka are estimated at AUD 571 million as of 2016. Australia is the 17th largest importing country for Sri Lanka. In 2017, the 70 years of relations between Australia and Sri Lanka marked, Prime Minister Ranil Wickramasinghe made a state visit to Australia to celebrate the event.

[7] The Australian government has expressed concern about the conflict between the Sri Lankan government and the Tamil Tigers. In October 2008, Australian Foreign Minister Stephen Smith told his Sri Lankan counterpart that military action alone would not resolve the dispute with Tamil separatists. [2] In May 2009, Stephen Smith, Australia`s foreign minister, said Sri Lanka should seek a political solution with the Tamils to prevent a new generation from turning to terrorism. [3] Sri Lanka is the only country to have free trade agreements with India and Pakistan, with more than 1.3 billion consumers duty-free. Tea and other food products, textiles, clothing, rubber, iron and steel, which are the main imports from Sri Lanka. Tourism to Australia from Sri Lanka has also increased with the launch of Sri Lankan direct flights between Colombo and Melbourne from October 2017, and both-way tourist flows are expected to be increased in the future. In addition to the aforementioned key sectors, there are other sectors in Australia with trade and investment opportunities for Sri Lankan businessmen….

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