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India seeks to strengthen bilateral relations with Sri Lanka through a proposed trade pact

The Indian High Commissioner to Sri Lanka said he is waiting for Sri Lanka and India signed the proposed trade pact without further delay to strengthen bilateral relations between the two countries this week, said a statement from the Ministry of Finance . "Indian Commissioner Alto El, Taranjit Singh Sandhu told the Minister of Finance at the meeting that strengthening bilateral relations between India and Sri Lanka is of the utmost importance for both countries. He said India hopes the two countries can sign the treaty without the free trade later proposed, "he said. Sandhu, the new High Commissioner said that the signing of the trade agreement between India And Sri Lanka would strengthen ongoing development activities on the island. "The High Commissioner said that the free trade agreement will bring many privileges to Sri Lanka and said that her country has drawn attention to further diversification The existing Indian projects on the island, "said the Ministry of Finance. In response to the Indian High Commissioner, Finance Minister Ravi Karunanayake said that the assistance provided by neighboring India is highly appreciated by Sri Lanka. According to the declaration, the minister also said that the international community, including the most powerful countries in the world, have agreed to help Sri Lanka in its forthcoming March ahead of the transparent foreign policy of President Maithripala Sirisena and the Prime Minister Ranil Wickremesinghe. Foreign direct investment in Sri Lanka has fallen consecutively since the current government took office two years ago. Now the government is negotiating free trade agreements (FTAs) with Singapore and China, while half a dozen others are planned, calling trade the only option Sri Lanka. India's Trade Pact, called the Economic and Technological Cooperation Agreement (ETCA), is an extension of SLA Indo-Lanka to include trade in services and investment, and a revival of the controversial Economic Partnership Agreement (APEG). Despite statements by government officials that ETCA does not understand the exchange of individuals as CEPA, ETCA has also been found with similar levels of public resistance due to the government's reluctance to share details about the Trade pact. Indian media reports said last month that the Indian government does not want to allow Sri Lanka to remove the restrictions imposed on the main export products to enter India through the Free Trade Agreement, a condition in which Many ETCA supporters in Sri Lanka to support the agreement. Dr. Dushni Weerakoon, deputy director of the Institute of Political Studies, said it is unlikely that Sri Lanka will experience many investments through pacts with India or Singapore, but the Chinese case could Be different because the Chinese government can direct actions Chinese enterprises.

 
 

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