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India and SL set eyes on clinching CEPA soon

2 August 2012 01:53 am - 10     - {{hitsCtrl.values.hits}}

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India and Sri Lanka will work towards not only enhancing economic co-operation by doubling bilateral trade to $9 billion by 2017, but also for the early conclusion of the Comprehensive Economic Partnership Agreement (CEPA).

Three-day visit

Commerce and Industry Minister Anand Sharma will be in Colombo for three days from August 3. He will be meeting his counterpart Rishad Bathiudeen to discuss ways to widen the free trade agreement in goods and expanding it to include services and investments. He would also be attending the India Show.

Mr. Sharma is also scheduled to meet Sri Lankan President Mahinda Rajapaksa. “Mr. Sharma’s visit would set the tone for doubling the bilateral trade to $9 billion by 2017 and also move forward the dialogue process for early conclusion of CEPA,” an official statement said.

At present, bilateral trade stands at $4.5 billion. CEPA is aimed at liberalising trade in services and investments by updating existing agreements on investment protection and avoidance of double taxation. Mr. Sharma will also discuss the scope of strengthening the economic and trade cooperation between the two countries, it said.

Over 108 Indian companies would showcase a wide range of products and services, including automobile, engineering, infrastructure, tourism, food processing, ICT, financial services, pharmaceuticals and education. (Source: The Hindu)
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  Comments - 10

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  • M.V.R.Perera Thursday, 02 August 2012 07:54 AM

    what is the benefit to us when we are having the highest priced electricity in the world and India is having one of the lowest priced electricity in the world because of which our factories will have to close down

    RF Thursday, 02 August 2012 08:26 AM

    Lets see what Jayalalitha has to say about this???? 100% sure she is not going to be against this....

    Prasanna Thursday, 02 August 2012 08:31 AM

    Please no Indian cars free of tax to the roads !!!

    At present our road system is developing and find it difficult to cope with 800cc indian cars moving slowly on the roads.... Pls no change of tax on them rather increase. busses will be ok but better modles.

    Bar Thursday, 02 August 2012 10:09 AM

    So no more expensive CEYLON TEA available in Srilanka for Lanka People. We should drink cheep INDIAN TE.

    lankaman Thursday, 02 August 2012 10:16 AM

    CEPA means cheap indian labor will flood sri lanka. After that sri lankans will be jobless

    Suresh Thursday, 02 August 2012 10:34 AM

    What a joke ? India IS running out of labor. We want cheap labors from SL

    RF Thursday, 02 August 2012 10:43 AM

    Do you know that Sri Lanka is short of labour. Do you know that some of the construction companies use Chinese / Indian Labour...

    Trevor Jayetileke Saturday, 04 August 2012 12:31 AM

    Any progress on CEPA has to be done in conjunction with what India plans to do in Geneva. There has to more trust building between Neighbours before considering doing business.
    We have to move with extreme caution before signing CEPA.

    zosa Thursday, 02 August 2012 12:50 PM

    We are leaving to Cocos after CEPA. There will be cheap labor from South India.

    Dias Thursday, 02 August 2012 12:59 PM

    If we can export more no harm signing the CEPA.


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