Sri Lanka to fast track trade pact with India after Brexit

[Desi_Dalek]

Sri Lanka to fast track trade pact with India after Brexit
Sri Lanka's opposition has criticised the proposed trade deal with India as an attempt to "foreignise" the country's economy

By: PTI | Colombo | Published:June 28, 2016 7:07 pm

File photo: External Affairs Minister Sushma Swaraj (L) talks to with Sri Lanka’s Prime Minister Ranil Wickremesinghe during their meeting in Colombo, Sri Lanka February 5, 2016. REUTERS/Dinuka Liyanawatte
Sri Lanka on Tuesday said it will fast track its proposed trade agreements with India in order to mitigate the effect of Brexit, notwithstanding opposition from political parties and trade unions. “We hope to fast track the Economic and Technical Cooperation Agreement (ETCA) with India and free trade agreement with China. We are also hoping to sign similar trade deals with Japan and South Korea,” Deputy Foreign Minister Harsha de Silva said.

De Silva was among those in the government delegation which was sent to the UK to campaign for remain in the EU. The move was criticised by the opposition. De Silva, however, has defended the action as one done in the best interests of Sri Lanka. He told parliament that the UK’s exit from the EU will impact Sri Lanka’s exports to the 28-nation bloc.

Sri Lanka’s opposition has criticised the proposed trade deal with India as an attempt to “foreignise” the country’s economy and demanded that the shortcomings in the existing free trade agreement should be sorted out before concluding the deal. It said the agreement would be advantageous to India and inimical to Sri Lankan economic interests.

The opposition demands that the agreement include goods, trade in services and investment. Prime Minister Ranil Wickremesinghe has in the past said that his government will sign the proposed ETCA with India by the middle of this year notwithstanding opposition from political parties and trade unions. He said that it was a misconception that the country would be flooded with Indian workers.

The leave vote of the UK referendum has had an effect on global financial markets and the world economy faced new uncertainties post Brexit.

Source:http://indianexpress.com/article/in...k-trade-pact-with-india-after-brexit-2881804/

 

[Godman]

They said this decision was taken after Prime Minister Ranil Wickremesinghe met leading business magnates soon after he returned from Galle last evening. Sources said the business magnates had suggested that the signing of ECTA with India would be advantageous because Sri Lanka’s exports to Britain amounting to some 40 per cent of country’s total exports to Europe was uncertain given the new situation in Europe. - See more at: http://www.dailymirror.lk/111599/Govt-to-expedite-signing-of-ETCA#sthash.52KNXfKO.dpuf

Sri Lankan magnates are pushing for closer economic cooperation with India

 

[Gibbs]

Going to be a disaster without national policies being implemented, Sri Lanka already has a FTA with India with major flaws, With heavy imbalance advantage to India.. This agreement is going to include trade and services to the act, Thus exposing the whole economy, Massive blunder and stupidly arrogant act by the RW regime.. Going to back fire spectacularly on them, Hopefully by then the damage done would not be devastating

Brexit just being used as a advantageous excuse to push ECTA through

 

[Indika]

Brexit should be good for Sri lanka as it will give equal playing field.

This agreement is going to include trade and services to the act, Thus exposing the whole economy, Massive blunder and stupidly arrogant act by the RW regime..

Sounds true, but service sector usually shines where the host currency is stronger. Indian company services will be expensive for lanka's customers as most of them might look for dollar equivalent cost.

In the beginning few big clients may be able to afford it but sooner or later local companies crowd out the local market only leaving niche area for outsiders for where expertise is not locally available.

 

[livingdead]

what has brexit got to do with this..

 

[Saradiel]

what has brexit got to do with this..

exactly it is just that @Godman 's god father is crazy and stupid

They said this decision was taken after Prime Minister Ranil Wickremesinghe met leading business magnates soon after he returned from Galle last evening. Sources said the business magnates had suggested that the signing of ECTA with India would be advantageous because Sri Lanka’s exports to Britain amounting to some 40 per cent of country’s total exports to Europe was uncertain given the new situation in Europe. - See more at: http://www.dailymirror.lk/111599/Govt-to-expedite-signing-of-ETCA#sthash.52KNXfKO.dpuf

Sri Lankan magnates are pushing for closer economic cooperation with India

really which business magnates?

@Gibbs

 

[Godman]

exactly it is just that @Godman 's god father is crazy and stupid

What the hell is that?
Please stop going around like you are crazy and stupid. You well know that I choose politicians on my policies and not blindly worshipping them. DON'T put me on the level of HeinzG and even mentioning me like that is utter stupidity!


Just because I support UNP reforms and Ranils foreign policy doesn't make me his blind worshipper. Like.HeinzG and samv who think Rajapaksa is a king.I neither support ETCA nor people like Arjuna Mahendran or RaviK. I merely support my own policies that are needed to.move the.country forward and I support the person that does it. Not believe in lies and conspiracy theories and vote for fake patriotism Ieven supported MR in past and that is the biggest mistake I ever did

So please don't go making up nonsense and ranting like idiot. It's annoying. And I expect this is the last time you would do that crazy thing

 

[Gibbs]

exactly it is just that @Godman 's god father is crazy and stupid

Lets not get personal bro.. We already have enough mind fucked political slaves to deal with.. Lets counter the argument not the poster

Tks for the video.. The ECTA at this moment and in this structure is not necessary at all.. The FTA at the moment is suffice despite it's short comings.. The arrogance of the RW govt over this is will be a further fall out

 

[Godman]

Lets not get personal bro.. We already have enough mind fucked political slaves to deal with.. Lets counter the argument not the poster

Tks for the video.. The ECTA at this moment and in this structure is not necessary at all.. The FTA at the moment is suffice despite it's short comings.. The arrogance of the RW govt over this is will be a further fall out

The FTA needs to be updated instead of ETCA first and we should put more priority to FTA with Singapore will be a big boost for our goal of becoming trade hub and TPP issue also needs to be studied well. Joining TPP will have immense benefits compared to ETCA

And @Saradiel seriously needs to learn to not make things personal and learn to understand when a thing is said once. Just repeating it for the sake of trolling even when you know well it is false is dumb

 

[Saradiel]

The FTA needs to be updated instead of ETCA first and we should put more priority to FTA with Singapore will be a big boost for our goal of becoming trade hub and TPP issue also needs to be studied well. Joining TPP will have immense benefits compared to ETCA

And @Saradiel seriously needs to learn to not make things personal and learn to understand when a thing is said once. Just repeating it for the sake of trolling even when you know well it is false is dumb

The FTA needs to be updated instead of ETCA first and we should put more priority to FTA with Singapore will be a big boost for our goal of becoming trade hub and TPP issue also needs to be studied well. Joining TPP will have immense benefits compared to ETCA

And @Saradiel seriously needs to learn to not make things personal and learn to understand when a thing is said once. Just repeating it for the sake of trolling even when you know well it is false is dumb

I have seen enough of your replies to understand you are a simple blind RW follower. The very reason you get panicked at the mere mention of names like Dayan ( critiques of RW) proves it.

The problem is the government does not take any action to update FTA , the government does not consult local businessmen and professional bodies who are against ETCA. They have clearly stated they will support agreement if the gover first come up with a policy on trade pacts.

 

[Godman]

@Saradiel I know about Ranils arrogance better than mate you mate. In fact one of the main reasons I supported MR was Ranils arrogant actions. Ranil has inherited his arrogance from JR and thinks he is always right. His arrogance was his downfall in 2005 and it will be his downfall in 2020.

However I am not going to give up my policies I will be a capitalist and would NEVER give a damn about the likes of Dayan who are spreading Anti-Capitalist bigotry

 

[Saradiel]

@Saradiel I know about Ranils arrogance better than mate you mate. In fact one of the main reasons I supported MR was Ranils arrogant actions. Ranil has inherited his arrogance from JR and thinks he is always right. His arrogance was his downfall in 2005 and it will be his downfall in 2020.

However I am not going to give up my policies I will be a capitalist and would NEVER give a damn about the likes of Dayan who are spreading Anti-Capitalist bigotry

I dont know whether Dayan is anti capitalist or not, but Dayan is right about RW, Mangala and CBK. This has nothing to do about capitalism. The current gover is neo liberal and dangerous to SL

 

[Godman]

I dont know whether Dayan is anti capitalist or not, but Dayan is right about RW, Mangala and CBK. This has nothing to do about capitalism. The current gover is neo liberal and dangerous to SL

Dayan calls him leftist and most of thw time he isnt making much sense even in that article he talks nonsense about diaspora capitalists. There are way better critics of current govt than him.
I never liked CBK or Mangala. CBK was the worst president ever however she has no chance of returning to power. Ranil will not be able to survive after 2020 he may try for a one last time in 2020 but I doubt he will have much chances. He isn't that healthy either and there are many people to take over UNP leadership. Ranil is no longer needed after this.

 

[Saradiel]

Dayan calls him leftist and most of thw time he isnt making much sense even in that article he talks nonsense about diaspora capitalists. There are way better critics of current govt than him.
I never liked CBK or Mangala. CBK was the worst president ever however she has no chance of returning to power. Ranil will not be able to survive after 2020 he may try for a one last time in 2020 but I doubt he will have much chances. He isn't that healthy either and there are many people to take over UNP leadership. Ranil is no longer needed after this.

There arent many who can lead UNP, The chances are if SLFP were allowed to have rajapakses, UNP will sit in opposition another 20-30 years. There is no leftism or capitalism in what Dayan says, he is a realist and his criticism against RW government is extremely valid

 

[HeinzG]

@Saradiel I know about Ranils arrogance better than mate you mate. In fact one of the main reasons I supported MR was Ranils arrogant actions. Ranil has inherited his arrogance from JR and thinks he is always right. His arrogance was his downfall in 2005 and it will be his downfall in 2020.

However I am not going to give up my policies I will be a capitalist and would NEVER give a damn about the likes of Dayan who are spreading Anti-Capitalist bigotry

Capitalism is not the way forward.

Brexit should be good for Sri lanka as it will give equal playing field.

Sounds true, but service sector usually shines where the host currency is stronger. Indian company services will be expensive for lanka's customers as most of them might look for dollar equivalent cost.

In the beginning few big clients may be able to afford it but sooner or later local companies crowd out the local market only leaving niche area for outsiders for where expertise is not locally available.

Sri Lankan jobs are for Sri Lankans only. Why the hell India needs to jump in? Don't you think it's better that India find some other way to fight unemployment among Indians.

Lets not get personal bro.. We already have enough mind fucked political slaves to deal with.. Lets counter the argument not the poster

Tks for the video.. The ECTA at this moment and in this structure is not necessary at all.. The FTA at the moment is suffice despite it's short comings.. The arrogance of the RW govt over this is will be a further fall out

Then why running away from arguments? Don't blame me for your mishaps.

Dayan calls him leftist and most of thw time he isnt making much sense even in that article he talks nonsense about diaspora capitalists. There are way better critics of current govt than him.
I never liked CBK or Mangala. CBK was the worst president ever however she has no chance of returning to power. Ranil will not be able to survive after 2020 he may try for a one last time in 2020 but I doubt he will have much chances. He isn't that healthy either and there are many people to take over UNP leadership. Ranil is no longer needed after this.

The day Ranil leave UNP is the day that UNP will cease to exist. Mark my word. UNP is on a active volcano if UNP lose in 2020 and Ranil has to leave amidst the pressure, UNP would have to face a grave situation about it's survival.