By Maheesha Mudugamuwa
Sri Lanka has proposed setting up a joint committee with Singapore to amend the controversial Free Trade Agreement (FTA).
Negotiations to amend the Sri Lanka-Singapore Free Trade Agreement (SLSFTA) will likely resume over the next two months after the report of the Cabinet-appointed five-member subcommittee is submitted to the Cabinet, a senior official of the Ministry of Development Strategies and International Trade said yesterday.
Development Strategies and International Trade Ministry Secretary S.T. Kodikara told The Sunday Morning that the cabinet subcommittee which was appointed this year comprises the Ministers of Agriculture, Finance, Foreign Affairs, Development Strategies and International Trade, and Industry and Commerce.
A senior Director of the Ministry of Development Strategies and International Trade, who wished to remain anonymous, told The Sunday Morning that the Ministry had already received proposed amendments for the SLSFTA from government institutions, and those amendments would be submitted to the subcommittee.
“We have been receiving suggestions from government institutions which we provide to the Cabinet-appointed ministerial subcommittee. Finally, it is the cabinet subcommittee which will suggest the amendments,” the official said, adding that the agreement itself had given provisions under section 17(10) and (1) for amendments.
“The suggestions that we received so far have been tabulated and we will be submitting it at the next meeting of the cabinet subcommittee. After which, the cabinet subcommittee will give that report to the Cabinet,” the official explained.
According to the Senior Director, a Joint Committee comprising of officials of the two countries would be appointed to give effect to the amendments approved by the Cabinet of Ministers of Sri Lanka.
“The communication to appoint the joint committee has already gone through the diplomatic channels and the officials to represent Sri Lanka in the joint committee have been identified. We are awaiting a communication from Singapore,” the senior Director said.
“Once the joint committee is appointed, Sri Lanka’s proposal will be submitted to it,” the official added.
Last year, President Maithripala Sirisena appointed an expert committee chaired by former Vice-Chancellor of the University of Colombo, retired economics professor W.D. Lakshman. The expert committee report was submitted to the President earlier this year. Based on the recommendations made by the expert committee, the cabinet sub-committee was appointed.
Sri Lanka and Singapore signed the free trade agreement on 23 January 2018 during the official visit of Singapore Prime Minister Lee Hsien Loong to Colombo.
Sri Lanka has proposed setting up a joint committee with Singapore to amend the controversial Free Trade Agreement (FTA).
Negotiations to amend the Sri Lanka-Singapore Free Trade Agreement (SLSFTA) will likely resume over the next two months after the report of the Cabinet-appointed five-member subcommittee is submitted to the Cabinet, a senior official of the Ministry of Development Strategies and International Trade said yesterday.
Development Strategies and International Trade Ministry Secretary S.T. Kodikara told The Sunday Morning that the cabinet subcommittee which was appointed this year comprises the Ministers of Agriculture, Finance, Foreign Affairs, Development Strategies and International Trade, and Industry and Commerce.
A senior Director of the Ministry of Development Strategies and International Trade, who wished to remain anonymous, told The Sunday Morning that the Ministry had already received proposed amendments for the SLSFTA from government institutions, and those amendments would be submitted to the subcommittee.
“We have been receiving suggestions from government institutions which we provide to the Cabinet-appointed ministerial subcommittee. Finally, it is the cabinet subcommittee which will suggest the amendments,” the official said, adding that the agreement itself had given provisions under section 17(10) and (1) for amendments.
“The suggestions that we received so far have been tabulated and we will be submitting it at the next meeting of the cabinet subcommittee. After which, the cabinet subcommittee will give that report to the Cabinet,” the official explained.
According to the Senior Director, a Joint Committee comprising of officials of the two countries would be appointed to give effect to the amendments approved by the Cabinet of Ministers of Sri Lanka.
“The communication to appoint the joint committee has already gone through the diplomatic channels and the officials to represent Sri Lanka in the joint committee have been identified. We are awaiting a communication from Singapore,” the senior Director said.
“Once the joint committee is appointed, Sri Lanka’s proposal will be submitted to it,” the official added.
Last year, President Maithripala Sirisena appointed an expert committee chaired by former Vice-Chancellor of the University of Colombo, retired economics professor W.D. Lakshman. The expert committee report was submitted to the President earlier this year. Based on the recommendations made by the expert committee, the cabinet sub-committee was appointed.
Sri Lanka and Singapore signed the free trade agreement on 23 January 2018 during the official visit of Singapore Prime Minister Lee Hsien Loong to Colombo.