AG informs SC Singapore-Sri Lanka FTA under review

The Attorney General’s (AG) Department informed the Supreme Court today that the Free Trade Agreement between Sri Lanka and Singapore is under review.

The Supreme Court was informed that the new Government had decided to review the agreement.

A report compiled by a Presidential commission in 2018 found that the agreement had been rushed without the proper consent of stakeholder institutions.

The agreement between Sri Lanka and Singapore had been signed when Ranil Wickremesinghe was Prime Minister.

The Free Trade Agreement signed in January 2018 was to boost trade between the two countries.

The signing of the Free Trade Agreement took place following bilateral discussions held at the time between visiting Prime Minister of Singapore Lee Hsien Loong and then President Maithripala Sirisena at the Presidential Secretariat. (Colombo Gazette)