Although Sri Lanka’s exports to China have increased from US$ 28.39 million in 2005 to 121.63 million U.S. $ in 2013, trade balance remains significantly in favor of China. Bilateral trade reached US$3.62 billion in 2013. Sri Lanka hopes the FTA will help the country to gain easier access to the Chinese market and gradually reduce its trade deficit towards the world’s second largest economy. Some of Sri Lanka’s main export items to China include coir fiber, garments, tea, rubber and precious stones.