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COLOMBO, Thursday (AFP) - A huge trade gap in India's favour has narrowed sharply with an increase in exports from Sri Lanka under a free trade agreement, a senior minister said Thursday.

Bilateral trade reached a billion dollars last year with Indian exports amounting to 831 million dollars, up from 604 million dollars in 2001, government spokesman and constitutional affairs minister G.L. Peiris said. He said Sri Lanka's exports to India rose more dramatically to hit 167.7 million dollars last year, up from 70.8 million dollars in 2001.

The balance of trade which favoured India by 15 to one in 1998 when the free trade pact was signed has now come down to five to one, the minister said.

He said initial teething problems with the free trade agreement had now been ironed out.

However, India still does not allow free access to Sri Lanka's main export commodity tea or garments in a bid to protect its local producers and industrialists.

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