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ETCA may be a reality: Y.K. Sinha

16 August 2016 09:04 am - 8     - {{hitsCtrl.values.hits}}

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Proposed Economic and Technology Cooperation Agreement (ETCA) with India, the pact, which would be an improvement over the existing Free Trade Agreement (FTA), may soon be a reality.

Indicating this, Y.K. Sinha, India’s High Commissioner, used the 70th Independence Day as the occasion to tell critics and skeptics of the ETCA that “it is up to Sri Lankans themselves to decide on the contours of any agreement that they sign with a foreign country.”  However, there had to be “genuine debate and discussion” among stakeholders in Sri Lanka.

Mr. Sinha, who hoisted the tricolour flag at his residence here on Monday morning, referred to the latest round of discussion on the pact in Colombo last week and expressed the hope that the agreement, when signed, would be of mutual benefit to both countries “which  will be win-win situation for all.”

On the bilateral trade, the High Commissioner said it was $4.6 billion last year, of which Indian exports were valued at about $ four billion and Sri Lankan exports — $645 million. Nearly 60 per cent of Sri Lankan exports were making use of the FTA whereas 90 per cent Indian exports did not use the channel.  “It is obvious who has benefitted more from the FTA,” he argued.

Mr. Sinha added that as per latest estimates, the economic growth rate of India was expected to touch eight per cent during the current financial year. (The Hindu)

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  Comments - 8

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  • BuffaloaCitizen Tuesday, 16 August 2016 10:10 AM

    India should not sign this agreement as it benefits Sri Lanka more and is a country that never appreciates such generous gestures.

    Wele Vidane Wednesday, 17 August 2016 05:50 AM

    Hurry up do it before next election otherwise you are going to miss it.

    daily bour Tuesday, 16 August 2016 10:47 AM

    why MAY BE. It must be.

    Dinesh Tuesday, 16 August 2016 11:52 AM

    Why can't our govt let the public know fully the contents of this ECTA

    Lalith Tuesday, 16 August 2016 11:54 AM

    Now the cat is out of the bag. What will the Paada yathra people do?

    nan Tuesday, 16 August 2016 12:43 PM

    REALITY FOR WHOSE BENEFIT -NOT SRILANKA FOR SURE

    lanka Tuesday, 16 August 2016 03:46 PM

    ECTA will always be in India's interests! How many unemployed south indians Tamils will migrate to Sri lanka and become SL Tamils?

    manu Tuesday, 16 August 2016 06:14 PM

    This must not be allowed to be a reality. This must be stopped anyway.


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