Indian Minister arrives to expand bilateral trade relations

Nirmala-SitharamanIndian Union Minister of State for Commerce and Industry Nirmala Sitharaman arrived in Sri Lanka today in a bid to expand bilateral trade relations between the two countries, the ANI news service reported.

She was accompanied by senior ministry officials along with a business delegation.

During her three-day visit, she will be meeting with her counterpart in Sri Lankan government Malick Samarwickrama who is the Minister for Development strategies and International trade.

It is a reciprocal visit coming after Sri Lankan minister visit to India in July where several issues of economic cooperation between the two countries were discussed.

The Union Minister will also call on Prime Minister Ranil Wickremesinghe.

The proposed Economic and Technology Cooperation Agreement (ETCA) between the countries is likely to figure prominently during her discussions with Sri Lankan leadership.

The visit comes ahead of the meeting scheduled at New Delhi later this week to further discuss the agreement.

Both sides have begun negotiations on the draft agreement and first round of talks were held in Colombo last month.

Both countries have signed a free trade agreement in 1998 and ETCA seeks its expansion to investment and service sectors along with deepening trade relations in goods. (Colombo Gazette)

1 COMMENT

  1. We understand that how is that important of bilateral Trade between Sri lanka and India , every right thinking person do not want missed such a an oppournity !

    But before that FTA between SL and Indian must be Review without further delay according to WTO of the Annex 3 page 821 guide line agreement “….the purpose of the trade policy review mechanism (“TPRM”) is to contribute to improved adherence by all members to rules disciplines and commitments made under the multilateral trade agreement and,where applicable ,the plurilaterl trade agreement and hence to smoother functions of the multilateral trade system, by achieving grater transparency in, and under standing of,trade policies and practise of Members…”

    Indian Party should not insist to forcefully for sing proposed ETCA .
    We as nation cannot do that in force by Indian party.
    First we have go through details review FTA between two countries.
    Then we have take next step for ETCA.
    Indian has to follow WTO guide line ,this international agreement cannot change at once of ETCA by overnight.

    Sri Lankan Govt. party not take part by Indian bully of force agreement proposed ETCA ,without National Trade policies, consensus of Parliament, civil societies and Businessmen in by domestic transparency of WTO guide line —-is essential by WTO rules.

    See WTO page 821 of B …Domestic transparency.
    We are party of WTO if Govt. of Sri Lankan not follows WTO international obligation and domestic rules the proposed ETCA agreement is not going to be valid according Trade Law between two countries>

    If not follow WTO rules by Govt. SL ,that the People of Sri Lankan have every right repel ETCA by later part of that time arise.

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