Response to Brexit: SL to turn towards Asia

26 June 2016 03:08 pm - 9     - {{hitsCtrl.values.hits}}

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Sri Lanka will turn towards Asia as uncertainty had gripped Europe with the decision by UK to leave European Union (EU), Prime Minister Ranil Wickremesinghe said today.

Mr Wickremesinghe who was speaking at a United National Party (UNP) membership drive in Galle said Sri Lanka will have to go for trade ties with Asian nations in the South and South East Asia. "We have already planned to sign Economic Technology Cooperation with India and a free trade agreement with China but we will start negotiations with Singapore for a free trade agreement shorty and will also think of South Korea as well" he said.Also he said Sri Lanka is also interested in Japan as well.

The Prime Minister said he has appointed a committee of intellectuals comprising Charitha Ratwatte, Professor Saman Kelegama, Arjun Mahendran, the Treasury Secretary and several others to study the global economic situation especially on the impact on Britain's exit from EU and to recommend mid and long term plan to face the global economic situation.

Further he revealed that Briton's exit from Europe will affect Sri Lanka's foreign reserves as ten per cent of it comprises Sterling pounds.

Further, he said Sri Lanka had decided to go for a trade pact with UK but will have to see the situation in that country as more issues have come up after the UK people deciding it should leave EU. He said uncertainty will prevail further as UK will have to think of a procedure to leave EU. He said UK is yet to think of how it could leave EU and this situation too will be affected by these uncertainties.

" Uncertainty in UK will clearly affect Sri Lanka as 40 per cent of its exports goes to UK " he said.(Yohan Perera)

Pix by Pradeep Pathirana

  Comments - 9

  • Sharon Monday, 27 June 2016 03:43 PM

    Very intelligent. Sent out China as soon as grabbed the PM post. Now worshiping them to come back... Truly the Brain of Asia...

    Andare Monday, 27 June 2016 03:47 PM

    Koheda yanne malle pol! The audience needs relief from VAT and is not interested in Brexit.

    waco Monday, 27 June 2016 08:14 AM

    PM never fought the war. He needs no security

    lkboy Monday, 27 June 2016 10:08 AM

    Good decision.

    Lalith Monday, 27 June 2016 10:18 AM

    We were already turned towards Asia before India UK and US installed your puppet regime.

    joe Monday, 27 June 2016 10:57 AM

    Once again back to CHINA our way out

    Ken Tuesday, 28 June 2016 05:22 AM

    There is no threat to Ranil life. Even the LTTE couldnt achieve the level of destruction Ranil has done in a short time. They will do everything to keep him there. via DM Android App

    Lal Sunday, 26 June 2016 03:31 PM

    We see here the PM having police guards however a certain MP wants hundreds of military guards

    Aba Jayasekera Sunday, 26 June 2016 04:35 PM

    If as you say, 40% of our exports go to UK, isn't it only the proper thing that we stand by UK in this hour of its need?


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