ETCA to be signed end of this year: Ranil

6 October 2016 12:36 pm - 25 - {{hitsCtrl.values.hits}}

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India and Sri Lanka will sign the Economic and Technology Cooperation Agreement (ETCA) by the end of this year, Prime Minister Ranil Wickremesinghe said today as both countries look to cement ties further.

Addressing the India Economic Summit organized by the World Economic Forum (WEF), Wikremesinghe said, “We are cognizant that the economic asymmetry between Sri Lanka and India will increase in the future when the latter emerges as a major global player in an increasingly multipolar world. The India-Sri Lanka FTA (Free Trade Agreement) will be further expanded and deepened to go beyond trading goods to cover trade in services, investments and technology cooperation.”

“The proposed economic and technology cooperation agreement will be signed by end of this year…Prime Minister (Narendra) Modi and I decided that we should conclude it by this year,” he added.

He pointed out that the economic and technology cooperation agreement offers a strategic economic advantage to Sri Lanka and the fast-growing southern Indian states. “These five southern states have a population of 250 million and a combined GDP of $450 billion. With an addition of Sri Lanka $80 billion, the GDP in this sub regional economy will cross $500 billion,” he said.

He added that along with the free trade agreement between Sri Lanka and Singapore, the Comprehensive Economic Partnership Agreement (CEPA) between India and Singapore and the ETCA between India and Sri Lanka will establish a tripartite agreement for trade and investments.
Wickremesinghe, who is on a three-day visit to India, said he also floated the idea in a meeting with Modi of getting countries like Indonesia and Malaysia and BIMSTEC (The Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation) countries to be a part of the larger economic partnership.

He also downplayed fears of Sri Lanka’s military ties with China around investments in the one belt one road programme that envisages massive Chinese investments in infrastructure building in the island nation. “There has been a lot of suspicion that there is a military element to it. But that is not there. We have told this very clearly to the Chinese and they have agreed,” he said. (Livemint.com)

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Comments - 25

Desmond Jeromme Thursday, 06 October 2016 07:30 PM

Good move.... its a "hitch" for the JO, don't worry about the mushrooms who were born for yesterdays rain and un-educated mokers... We will support you Sir.

lal Friday, 07 October 2016 11:36 AM

yes you are correct srilanka is not private property of anyone

RM Thursday, 06 October 2016 09:11 PM

Commenting on unseen documents shows the level of education in SRI LANKA and the stupidity of its people.I suppose in a world of dreams.

Maya Thursday, 06 October 2016 08:40 PM

What is the size of the Lankan IT community, mate ? Think sensibly ! India's huge market is now accasable all the nation got to do is to engage the Lankan diaspora abroad to seize up the massive opportunities present.

Kadupol Jothywansa Thursday, 06 October 2016 08:38 PM

Weerawansa, Gamampilla, Bandula all these rotters should plaster their mouths. RW will bring prosperity for SL somehow.

Vijith Pieterz Thursday, 06 October 2016 08:36 PM

Ranil is a Wise Gentleman, un-like MR who robbed our nation.

Nish Thursday, 06 October 2016 08:25 PM

and we still havent seen it. Yahapalanaya is turning out to be an dictatorship

Vijith Pieterz Thursday, 06 October 2016 08:02 PM

Not only a Hitch, these good for nothing JO idiots has no say now... they are stunt.

Manuel Benjamin Thursday, 06 October 2016 08:01 PM

J/O are really not half boiled eggs, but they are rotten eggs.

Desmond Jeromme Thursday, 06 October 2016 07:59 PM

We must put a plaster to MR and gangsters and make them only puppets.

J Palitha Thursday, 06 October 2016 07:58 PM

I am sure, 100% support for you forever Sir. JO is trying to destroy us and earn illegally, that era should not come again forever.

Kadupol Jothywansa Thursday, 06 October 2016 07:57 PM

We trust our Educated PM, he knows what he do... un-like moda Mahinda.

Kadupol Jothywansa Thursday, 06 October 2016 07:31 PM

Only half boiled rotten eggs - JO will oppose this. But majority will support you and behind you Sir.

kaboos Thursday, 06 October 2016 02:01 PM

ETCA will help us to over come lot of domestic problems

German Jacob Thursday, 06 October 2016 07:28 PM

Go a head Sir.... Its a good move. The whole nation will support your move.

BR Thursday, 06 October 2016 07:16 PM

What change?Have you seen the ECTA agreement in your dreams like the document Tissa Attanayaka dreamt of?

BR Thursday, 06 October 2016 05:32 PM

Lots of comments on an unseen document.These are the so called educated in SRI LANKA.God bless our country.

Sammy Thursday, 06 October 2016 05:32 PM

It appears that Sri Lankan govt. has been pushing for this and not Indian. Indian may only support it, so there is no question of paying back as it would be more to Sri Lanka's benefit.

lankaman Thursday, 06 October 2016 05:25 PM

with our sovereignty?

srini Thursday, 06 October 2016 05:23 PM

Did Singapore conducted referendum? Simply the PM of Singapore visited Delhi and signed the agreement and gone back. Are you really serious in asking for referendum for a trade pact?

Praba Thursday, 06 October 2016 05:07 PM

Vision one : Arjun Mahendran. Vision two : ETCA.

Wikileaks Thursday, 06 October 2016 04:47 PM

This is the change everyone was seeking. Hip Hip Hoooray!

Murru Thursday, 06 October 2016 03:15 PM

dear PM, you are going to work against IT community in Sri Lanka, see the way your image going to be tarnished in social media.

Gusto Thursday, 06 October 2016 03:15 PM

Good move. India helped immensely to defeat the corrupt Rajapakse regime. This is our turn to pay them back.

Ruwan Thursday, 06 October 2016 02:44 PM

Ranil says "Prime Minister (Narendra) Modi and I decided that we should conclude it by this year" How can he decide for all of us? There should be a referendum!

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ETCA to be signed end of this year: Ranil

Comments - 25

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