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This is an archive article published on October 6, 2007

India, Sri Lanka sign MoU to finalise Tariff Rate Quota

India and Sri Lanka have signed a memorandum of understanding...

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India and Sri Lanka have signed a memorandum of understanding (MoU) to finalise the procedural arrangements for operationalisation of Tariff Rate Quota (TRQ) for import of 3 million pieces of apparel articles covered under the India-Sri Lanka Free Trade Agreement (ISLFTA).

The MoU was signed by Qaiser Shamim, joint secretary, Ministry of Textiles on behalf of Government of India and W D Jayasinghe, additional secretary, Ministry of Textiles Industries, Sri Lanka on behalf of Government of Sri Lanka.

Sri Lanka would now be able to export three million pieces of apparel in one calendar year on duty free basis covered under the ISLFTA that came into force on March 1, 2000. There will not be any restriction on entry points and sourcing of fabrics as well.

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