The Government has decided to continue its efforts, initiated in 2023, to join the Regional Comprehensive Economic Partnership (RCEP), the world’s largest trade bloc, which accounts for around 30% of global GDP.

Sri Lanka formally submitted its letter of intent to join RCEP in 2023, and several member countries, including Australia, New Zealand, and Indonesia, have expressed support for its entry.

The matter was discussed at a roundtable on “Sri Lanka’s Pathway to RCEP and the Emerging Global Trading Order,” organised by the Pathfinder Foundation, which highlighted the country’s ongoing engagement with the bloc.

Trade Ministry Secretary K.A. Vimalenthirajah said the government has already submitted responses to the initial RCEP questionnaire and has set up a high-level policy committee and a working committee to manage the accession process.

He added that Sri Lanka has received technical assistance from multilateral partners, while further follow-up questions are expected as part of the assessment of the country’s readiness to join the agreement.

Indonesian Ambassador Dewi Gustina Tobing noted that RCEP represents a market of about 2.2 billion people with a combined GDP of around US$29 trillion, making it a highly dynamic economic region.

She also emphasized that Sri Lanka could benefit from RCEP due to its strategic location in the Indian Ocean, strong maritime connectivity potential, and potential to become a regional logistics and services hub.

New Zealand High Commissioner David Pine highlighted ongoing efforts to strengthen economic relations, including trade frameworks, education cooperation, and improved air connectivity between the two countries.