Going forward, Sri Lanka will look at ways to reduce a significant trade deficit with India, State Minister for Finance, Capital Market and State Enterprise Reforms Ajith Nivard Cabraal stated.

The State Minister made this remark whilst addressing a special press briefing yesterday (28) to make clarification about the virtual bilateral summit between Sri Lankan Prime Minister Mahinda Rajapaksa and Indian Prime Minister Narendra Modi on Saturday in which they discussed bilateral relations and regional and international issues of mutual concern.

“ During the summit, it was brought to the Indian Prime Minister’s attention that there was a deficit in the balance of trade between the two countries and that should be addressed at some point. He did mention about the SWAP arrangement that the Indian authorities had granted to the Sri Lankan authorities and that was also acknowledged. Going forward, we are looking at ways and means in which the trade imbalance could also be addressed,” Cabraal said.