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FTA tilted in favour of India

1 December 2010 09:25 am - 2     - {{hitsCtrl.values.hits}}

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The balance of trade between Indian and Sri Lanka has tilted highly in favour of India since the implement of the Free Trade Agreement (FTA) between the two countries in 2000.

According to an answer given in the House by the government, the value of Sri Lankan exports to India was uS$55.7 million in 2000 when the FTA was signed, as against imports valued US$600 million to the country.

The balance of trade has grown from US$544.4 million in 2000 to US$531 million in 2001 in favour of India.
Minister of Industries Rishard Bathiudeen revealed these figures in the House in response to a question by UNP MP Ravi Karunanayake.

According to the answer, the balance of Trade between the two  countries under the FTA in favour of India was US$665 million in 2002, US$835 million in 2003, US$972 million in 2004, US$881 million in 2005, US$1.3 billon in 2006, US$2,2 billion in 2008 and US$ 1.3 billion in last year.

Mr. Karunanayake stressed the need for the government to re-look at the FTA, and take measures to improve Sri Lanka’s export volumes to India.

“All these years, trade volume between the two countries has grown in favour of India. We must make sure that Sri Lanka exports more and import less for the balance of payment to be in our favour,” the UNP MP said.

Asked about the CEPA, the Minister said all stakeholders had to be consulted before signing it. (KB&YP)
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  Comments - 2

See Kapruka's top selling online shopping categories such as Toys, Grocery, Flowers, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Money Remittence,News, Courier/Delivery, Food Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop into Sri Lanka.

 

 
  • sw Wednesday, 01 December 2010 04:15 PM

    Just split the country in the middle and give the two halves to India & China.

    Saradial Wednesday, 01 December 2010 10:11 AM

    Oh took 10 years to realize this?


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