Joint opposition strongly opposes proposed deal with India

Joint oppositionThe joint opposition has taken a collective decision to strongly oppose the proposed Economic and Technical Cooperation Agreement (ECTA) with India.

A statement by the opposition said that an economic and technical pact with India will make sense if Sri Lanka can obtain from India some technical or economic input which Sri Lanka cannot provide for itself such as for example in the automotive, chemical or pharmaceutical industries.

However the opposition says the present Government seems to be intent on handing over to the Indians what can easily be done by locals.

The joint opposition is also of the view that before any new agreement is entered into, the shortcomings in the existing Free Trade Agreement with India should be ironed out and bureaucratic blocks that Sri Lankan exporters have experienced in India should be eliminated.

“In 2014, we imported 4,023 million USD worth of goods from India and exported goods worth only 625 million USD to India. After more than 15 years of the FTA, Sri Lanka’s largest export item to India is arecanut. If the FTA with India was working as it should, nobody would object to further expanding economic cooperation with our neighbour Furthermore, we believe that a satisfactory solution to the Indian fishermen’s issue should be found before going on to other bilateral matters,” the opposition said.

The opposition called upon the Sri Lankan business community, professionals, and the general public to oppose the “foreignisation” of the Sri Lankan economy by surreptitious means.

The opposition says it believes that any foreign investments in Sri Lanka should be channelled into areas that Sri Lanka is unable to develop on its own. (Colombo Gazette)

1 COMMENT

  1. The foreign policy must be the same, no matter who wins the election. But in reality leaders are selling the country to foreign powers to keep their power in order to increase their wealth. The former President CBK has a nice house in the UK. Can we probe where she got the money to buy a property in London? The leaders of good governance will also accumulate incredible wealth if they can pull off one more term. Do you think this kind of leaders will make this country as Singapore? Singapore is a developed country because South Asians are minority. Do you get the picture?

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