Sri Lanka defends trade deals with Singapore, China and India

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Sri Lanka today defended the Free Trade Agreement (FTA) with Singapore and the proposed deals with China and India, Asia Pacific Daily (APD) news reported.

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)

1 COMMENT

  1. India did not defeat the West but China did, eventually, China will deal with South Asia. One thing is very obvious, South Asians are born to be ruled by others; thanks to its corrupt and selfish leaders. South Asia never had a post-independence strategy to develop Indian Subcontinent. South Asian leaders only wanted an independent country so they can rip off their own people. I see what is coming, and you deserved it for your ignorance towards your own intellectuals. It will take another 50 years for average South Asians to see the reality.

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