Sri Lanka moves forward in RCEP accession process

COLOMBO, Nov. 26 (Xinhua) -- Sri Lanka has advanced its application to join the Regional Comprehensive Economic Partnership (RCEP) following Cabinet approval to complete and submit the initial questionnaire issued for prospective members, Cabinet Spokesman Nalinda Jayatissa said on Tuesday.

The RCEP agreement was signed by 15 Asia-Pacific countries -- ten members of the Association of Southeast Asian Nations and China, Japan, South Korea, Australia, and New Zealand.

The RCEP agreement, the world's largest free trade agreement, entered into force on Jan. 1. After it took effect, more than 90 percent of merchandise trade among members that have approved the accord will eventually be subject to zero tariffs.

Sri Lanka submitted its letter of intent to join the pact in 2023, with the expectation of expanding export markets, diversifying products and strengthening integration into regional and global supply chains.

A questionnaire was issued to several applicant countries, including Sri Lanka, in October 2025. It seeks basic information to assess compliance with RCEP provisions and readiness to provide commercially meaningful market access in line with the agreement's objectives. The completed questionnaire must be submitted by Jan. 25, 2026.

Jayatissa said the Cabinet approved the proposal presented by the minister of trade, commerce, food security and cooperative development for Sri Lanka's participation in RCEP and for completing the required documentation for submission.