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Inking FTAs only after adopting trade policy: Bandula

23 November 2018 06:22 am - 7     - {{hitsCtrl.values.hits}}

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The new government will sign Free Trade Agreements (FTAs) with other countries only after the adoption of a national trade policy, International Trade Minister Bandula Gunawardane said yesterday.

He told Daily Mirror that he submitted a Cabinet memorandum seeking approval to appoint a committee to study this matter and make recommendations to formulate a national trade policy.

“FTAs will be signed only after the national trade policy frame is approved. It is a requirement stipulated by the World Trade Organisation (WTO) to be considered by any country in striking a bilateral trade agreement. The policy will apply to the Economic and Technology Cooperation (ETCA) agreement to be signed with India. When signing a bilateral trade agreement, it has to be a win-win situation. The previous government had adopted a trade policy detrimental to the interests of local industries. It appeases foreigners only,” he said.

When asked about the FTA with Singapore, he said the commission, appointed by President Maithripala Sirisena to evaluate it, would submit its full report later. “Once that is done, we will move forward,” he said. (Kelum Bandara)

  Comments - 7

  • nsathees Friday, 23 November 2018 07:57 AM

    what ever, but wait till Dec 7th.

    Sunil Friday, 23 November 2018 08:00 AM

    A shameless man and awful statement. As represented an illegal govt to date. I think only a handful African say a one or two states are equal to this gang and cabinet.

    Sofia Friday, 23 November 2018 08:36 AM

    So you will not change the FTAs that you criticised so much but only delay and possibly change an insignicant clause to say you changed it. We know how you change kabaraya to thalagoya overnight to fool the undiscerning..

    Dinga Friday, 23 November 2018 09:10 AM

    You did talk about US $ rate vs. Rs., the hell first fix it, it is increasing even a higher rate.

    sas Friday, 23 November 2018 10:49 AM

    A shameless man.

    Ugly Lips Friday, 23 November 2018 11:09 AM

    Play with Rs. 2500, and sleep well. Please help us to stop increasing $$.

    tommy Saturday, 24 November 2018 05:04 PM

    This man is talking bs. If we have to increase exports then we must sign more and more FTAs with other countries.


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