U.S.-Sri Lanka Free Trade Agreement

U.S.-Sri Lanka Free Trade Agreement

During a Spring 2002 visit to Washington, Sri Lankan officials met with U.S. officials and informed them of their desire to enter into a free trade agreement with the United States. Later that year, the United States and Sri Lanka signed a Trade and Investment Framework Agreement which creates a joint exploratory council examining ways to expand bilateral trade and investment. Since 2007, talks were ongoing. Textiles and garments are Sri Lanka’s largest export earners and they account for over 60 percent of total export earnings. Sri Lanka has free trade deals with both India and Pakistan.

Two-way trade between Sri Lanka and the United States was approximately $3.26 billion in 2015. The same year, California exports to Sri Lanka totaled over $40 million.

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