Sri Lankan government to commence eighth round of negotiations on ETCA with India this week - Opportunity Sri Lanka
Sri Lankan government to commence eighth round of negotiations on ETCA with India this week

Sri Lankan government to commence eighth round of negotiations on ETCA with India this week

The government of Sri Lanka is to commence the eighth round of negotiations on the proposed Economic and Technology Corporation Agreement (ETCA) with India this week.
Reports state that a 17-member team led by National Negotiation Team Chief K. J. Weerasinghe will conduct discussions from today (21) till Friday (23) in New Delhi, India. The focus of the discussion would be on various aspects including goods and service, investments, custom cooperation and legal processes.
“The negotiations will evolve around many aspects of the proposed agreement and it will address many shortcomings that were in the previous free trade agreement (FTA) with India,” Development Strategies and International Trade Ministry Secretary Chandani Wijewardana has told Daily FT.
According to Wijewardana, the discussions are still on the text level, where they are now seeking scope to progress on to the schedule levels.
“Once the text is finalised, the scope has to be analysed and only then it will proceed to schedule levels, which we hope will take some time to complete. We think that another four rounds of discussions will be held before proceeding to schedules,” she has added.
The Sri Lankan negotiating team also includes Finance Ministry Economic Advisor Deshal de Mel, Finance Ministry Fiscal Policy Department Director General K. A. Vimalenthirarajah, Finance Ministry Trade and Investment Policy Director General C. Jayasuriya as well as representatives from Development Strategies and International Trade Ministry, Department of Commerce, Attorney General’s Department, Board of Investments and Sri Lanka Customs. In addition, the team includes Dr. Ravi Ratnayake on quality standards and Tiuli Cooray as private sector observant.

OSL take:

Sri Lanka already has a free trade agreement (FTA) with India and the ETCA would be a further enhancement of the existing economic and trade relations between the two nations. The growing relations between Sri Lanka and India could be used by foreign investors/businesses to set up base in Sri Lanka to do business with India.

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Article Code : VBS/AT/20180222/Z_2

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