Speaking in Parliament, Minister of Development Strategies and International Trade Malik Samarawickrama told Parliament that the FTA with Singapore will not harm employment opportunities in Sri Lanka.
He also said that the FTA with Singapore is open for amendments despite being signed in January.
The Sri Lankan opposition raised concerns over the agreement with Singapore saying it will deprive employment for Sri Lankans in Sri Lanka.
Opposition legislator Bandula Gunawardena told Parliament that the deal with Singapore did not have cabinet approval.
He said that the agreement posed a threat to Sri Lanka and must be reconsidered.
Samarawickrama said that Sri Lanka needs foreign investments in the country to go forward and the proposed Free Trade Agreement with China and a proposed Economic and Technology Co-operation Agreement (ETCA) with India will help the economy.
“We need new markets and new products,” Samarawickrama said.
He said that former President Mahinda Rajapaksa’s brother, former Defence Secretary Gotabaya Rajapaksa had also noted the importance of having economic relations with China and India. (Colombo Gazette)