Sri Lanka Gains Australia, New Zealand Backing for Entry into World’s Largest Trade Pact

COLOMBO (News 1st); Sri Lanka has successfully advanced diplomatic efforts to join the Regional Comprehensive Economic Partnership (RCEP), the world’s largest free trade agreement, according to Foreign Minister Vijitha Herath.

The announcement came following his official visits to Australia and New Zealand, where both nations expressed full support for Sri Lanka’s membership bid.

Speaking after concluding his tour and visiting the Sri Lankan High Commission in Canberra, Minister Herath highlighted that the discussions marked a significant step forward in the country’s path to integration with the Asia-Pacific’s economic framework. Australia and New Zealand, both founding members of RCEP, pledged to back Sri Lanka’s accession to the bloc.

RCEP, established with the participation of 15 nations, represents nearly half of the global population and a major share of world economic output.

The agreement includes the 10 ASEAN countries, Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand, and Vietnam, alongside economic powerhouses Australia, New Zealand, Japan, China, and South Korea.

Sri Lanka’s entry into RCEP is expected to open new avenues for trade, investment, and regional cooperation, strengthening its position in the Asia-Pacific economic landscape.