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Item Unveiling trade potential:an ex-ante analysis of the Sri Lanka-Thailand free trade agreement(Institute of Policy Studies of Sri Lanka, 2023) Wijesinghe, Asanka; Rathnayake, NilupuleeSri Lanka and Thailand are engaged in expedited negotiations for a free trade agreement(FTA) to enhance bilateral trade, facilitate trade activities, and promote investments. Anex-ante analysis employing a partial equilibrium analysis framework is conducted to assess the potential benefits and drawbacks of the agreement. The analysis considersexisting tariffs, bound tariffs, binding overhangs, and the development of offensive lists for both countries. Simulations are performed for 47 Global Trade Analysis Projects(GTAP) sectors, utilising sector-specific Armington elasticities to enhance the accuracyof the estimates.