EC/Sri Lanka agreement: cooperation and development agreement

The purpose of this decision is to allow a new cooperation agreement to be concluded with Sri Lanka. This agreement will include the following aspects: - trade and commercial cooperation: the parties will grant each other most favoured nation status, in accordance with the GATT, and improve access to each other's markets; - economic cooperation: Sri Lanka will have access to Community know-how, technology and capital, contacts will be developed between economic operators and mutual understanding of the economic, cultural and social environments of each party will be strengthened; - investments: a climate conducive to mutual investment and cooperation between financial institutions will be developed; - private sector: the private sector will be closely involved in achieving the objectives of the agreement; - standardisation, certification, metrology: the parties will endeavour to reduce their differences and develop compatible systems; - intellectual property: the parties will endeavour to give each other adequate and non-discriminatory protection; - science and technology: transfers of know-how will be promoted, innovation will be stimulated, scientific and technological information will be disseminated and the potential for future economic, industrial and commercial cooperation will be developed; - agriculture and fisheries: the trade in goods will be increased, veterinary and phytosanitary measures which obstruct trade will be avoided, links between agriculture and the countryside will be promoted and agricultural research will be developed; - other aspects: tourism, information, communication and culture, development cooperation, fight against poverty, environment, human resources, fight against drugs, regional cooperation. The agreement will be managed by a joint committee. �