Sri Lanka to go ahead with ETCA agreement with India

Prime Minister Ranil Wickremesinghe today said that Sri Lanka will go ahead with the proposed Economic and Technical Cooperation Agreement (ETCA) with India.

The Prime Minister said that Sri Lanka will first finalise the GSP plus deal with the European Union and then the ETCA agreement with India.

He also said that the government will negotiate a Free Trade Agreement (FTA) with China and other countries.

The Prime Minister said many international investors were now looking at Sri Lanka as a ideal investment hub.

Wickremesinghe said that 2017 was a crucial year for investments to come in and this would pave the way for Sri Lanka to strengthen itself in the Indian Ocean region.

“We want to develop Sri Lanka, especially as an export oriented economy aiming at job creation and income increments,” Wickremesinghe said.

He further said that with the Indian Ocean region becoming the fastest growing region in the word, Sri Lanka had to use its strategic location to become a communication center for shipping, airlines. business and expand its markets through FTAs.

The Prime Minister also denied reports of any political uncertainty in the country and remained firm that the present National Government would continue to implement all the development projects in order to make Sri Lanka an international hub. (Colombo Gazette)

3 COMMENTS

  1. We as nation that totally an opposed UNP Ranil W….. proposed ETCA with India.

    The very reason are that first and foremost review FTA between Sri lanka and India, which still outstanding amount comes to lost billions of rupees during last 16 years since year 2000.
    Ranil W…. interest is that sing ETCA with India his personal survival of politics and power!
    We having different issues that Economic sovereignty and strategy of growth of GDP is that ours priority of Business and trade in Island,
    Ours overall the national Economic interest will undermined by sing ETCA by immediate effect is possible to destroy whole growth of domestic GDP.

    Until review of FTA between two countries according to WTO rules, if we denied that there is no legitimacy to sing ETCA with India.
    The proosed ETCA has violated Economic sovereignty of whole Trading and Investment in Sri Lankan.
    Hence any case UNP Ranil.W…want sing ETCA with Indian, that ours business community has to seek WTO consensuses as soon as possible..

  2. He plans to hoodwink the Europeans with GSP+ ($230 million) sell the island to India ETCA and China Free Trade. China sends a 2 way cargo train to UK and does not need the sea or SARC.
    Ranil leaves the rest to the Gods.

  3. The problem is Ranil and Co. dont know how to make (FTA) deals. We always get the shorter end of the stick. There spineless and has always have their back bended towards anyone. Ranil has been PM twice and failed both times. Anyone with full set or half brain know this. Just take look at the port deal and hambotanta deal, China now owns more land than the previous deal done by Rajapaksa gonvt. And now this gonvt are also penalized for it delaying construction work and adding more red tape.

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