The Indo-Sri Lanka Free Trade Agreement (FTA) certificate is a document issued by the government of India and Sri Lanka to certify that a particular good or product has met all the requirements for free trade between the two countries.
The FTA between India and Sri Lanka was signed in 1998, with the goal of promoting bilateral trade and investment between the two countries. The agreement covers a wide range of goods and services, including textiles, electronics, agriculture, and tourism.
To obtain an FTA certificate, exporters must comply with certain rules and regulations set forth by both governments. These may include rules related to quality control, labeling, packaging, and product specifications.
One of the most important requirements for obtaining an FTA certificate is to ensure that the goods being exported meet the “origin criteria” set forth in the agreement. This means that the goods must be produced or manufactured within the territories of either India or Sri Lanka, and that a certain percentage of the product`s value must be generated through local production or processing.
Once these requirements have been met, the exporter can apply for an FTA certificate from the appropriate government agency. The certificate will typically include information about the exporter, the product, and the origin criteria met, as well as any other relevant details required by the agreement.
Overall, the Indo-Sri Lanka Free Trade Agreement has brought many benefits to both countries, including increased trade, investment, and economic growth. The FTA certificate is an important tool for ensuring that goods traded between India and Sri Lanka are of high quality and meet all necessary regulations. As such, it is an essential document for any exporter looking to take advantage of the many opportunities presented by this important trade agreement.