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Rajya Sabha
India and Srilanka are poised to work out the Comprehensive Economic Partnership Agreement (CEPA). The Commerce Secretary level talks held between the two nations in August last, in Colombo, was the 3rd of its kind under the Indo Srtilanka Free Trade Agreement. Both sides also highlighted the importance of deepening and broadening the scope of FTA in moving towards CEPA. A Joint Study Group constituted for this purpose had recommended measures such as reducing items under the negative list, harmonization of customs procedure and standardized trade facilitation. The CEPA could also include issued such as trade in services, investment and other areas of economic cooperation.
This was stated by Shri E.V.K.S. Elangovan, Minister of State for Commerce & Industry, in a written reply in the Rajya Sabha today.
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