India rejects allegations on proposed projects in Sri Lanka

India today rejected allegations raised on some proposed projects and deals with Sri Lanka including the proposed Economic and Technical Cooperation Agreement (ETCA.

Speaking at the 9th Annual General Meeting of the Indo-Lanka Chamber of Commerce and Industry in Colombo today, the High Commissioner of India to Sri Lanka Taranjit Singh Sandhu said that certain sections, who may not be very well informed, unfortunately, have been trying to portray, that Sri Lankan interests would be harmed, when some of the projects, take off.

“Nothing could be further, from truth. These are, JOINT projects. These projects bring huge investments, and valuable foreign exchange, for Sri Lanka. They create several thousands, of direct and indirect jobs. These projects, only bring benefits, to Sri Lanka. You are, practical and pragmatic. We would like you to project, the right message, in your interactions,” he said.

He said that when India and Sri Lanka, entered into an FTA in 2000, it was a first, for both countries. Total bilateral trade has increased 8 times since then.

“Share of FTA items in Sri Lanka’s exports to India increased from 16% in 2000 to more than 65% in recent years. Majority of Sri Lanka’s exports to India are through FTA. On the other hand, share of FTA items in India’s exports to Sri Lanka increased from 9% in 2000 to just 13% in recent years. Majority of India’s exports to Sri Lanka are outside the FTA. The facts and figures show FTA has indeed, been beneficial to Sri Lanka,” he said.

The High Commissioner said that there are several Sri Lankan companies, who have crafted their own success stories, by becoming part of global supply, and value chains.

“We need to create, more such stories. We have been working, towards expanding the contours, of the FTA to cover, investments and services. The proposed Economic and Technical Cooperation Agreement (ETCA) is in mutual interest. However, I would like to reiterate that we are ready to move at a pace Sri Lanka is comfortable with,” he said.

He says India is ready to partner Sri Lanka, in its important journey of development, and share experience, expertise and technology. (Colombo Gazette)

1 COMMENT

  1. Indeed the FTA between Sri lanak and India an urgently want to be Review according to the by guidance policies of WTO.
    Look at here Mr Ambassador we have gone thought last 17 years of negative result of that trade deficit closed to Rs 3 billions since its came into being year 2000. Sri lanak side lost millions of US Dollars foreign currency trade of “FREE” with India?
    The percentages growth of Trade between two nation has different case ,the so-called your said data is irrelevant herewith.
    The crux of matter of Indian market is/was NOT an OPEN to us. There was so many trade restriction by regional states and Govt. of Indian’s Customs on duty and delaying tactics by Indian customer offices and politicians..

    Theses issues has to be address by Govt. of Indianare the very burning problems for Sri Lankan Exporters. While the market access to investments and trading goods and services having non-visible barriers in Indian’s land.
    That is not a Free Trade for Sri Lankan side is concern.
    That is why we are vehemently denied that and our side view that without Review by WTO, we cannot move forward next proposed ETCA WITH INDIA.
    The Review is essential factor by WTO is the life line of Trade between two nations.

    Mr Ambassador has to be realized that simple fact FTA between two nation is totally failure ,the experiences which that we had gain through practice of FTA has shown in the 17 years.

    We do not want any more Trade trap with Indian in future.Of cause FREE TRADE is motive in Globally,that we having understanding of that.

    But we do not that agreed one-sided Trade “liberalization” of Economic – politics of USA ,UK Japan and EU of plundering wealth of our nation;we do not agreed, with India.

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