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Sri Lanka: Saudi Arabia mulls FTAs with Sri Lanka 10 other countries

COLOMBO, 26 August 2021, (TON): Saudi Arabia is looking forward to more trading partners as it aims at increasing non-oil exports share in its gross domestic product (GDP) and is reportedly resuming free trade agreement (FTA) negotiations with 11 countries including Sri Lanka.

The kingdom is reportedly resuming free trade agreement (FTA) negotiations with India, Bangladesh, Pakistan, Australia, New Zealand, China, the United Kingdom, Indonesia, the Philippines and the United States as well.

Based on a direction of the General Authority for Foreign Trade (GAFT), the Federation of Saudi Chambers (FSC) issued a circular regarding this to all domestic chambers of commerce, media outlets in the Gulf reported.

The country wants to export services, including transport, distribution, professional and financial services, communication services, postal services as well as express mail, media, hotel, construction and contracting, education and training, travel and tourism, environmental and entertainment.

The Saudi Exports Development Authority (SEDA) announced that the country will identify over 120 international tendering opportunities in a number of target countries.

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