The Cabinet of Ministers has approved the proposal presented by the Minister of Trade for awarding tariff concession as well as conduct discussions with Mongolia for identifying tariff concessions that be mutually agreed upon between the two parties, the state information office said.
Mongolia has been officially appointed a stakeholder of Asia Pacific Trade Accord (APTA) in which Sri Lanka too has been a partner state on the 29 September 2020.
"Accordingly, Sri Lanka has to exchange tariff reliefs mutually with Mongolia. Mongolia is also qualified for obtaining the relief granted by Sri Lanka under the accord to the countries such as Bangladesh, Laos etc. who are already stakeholders."
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