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This agreement will not lead to Sri Lankans losing jobs, he added. "We still haven't seen India's version. We have to put the two proposals together before we can come to an agreement," Wickremesinghe said. Professional associations raised concerns about the flow of professionals between the two countries, but Wickremesinghe said there was no reason to fear an impact on employment.
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The government will not consider Mode 4 of the WTO General Agreement on Trade in Services (GATS) which allows professionals to provide a service in another country, he said. "We will not allow foreigners to be given jobs that at the expense of Sri Lankan nationals." "There is currently a procedure for granting visas to foreign workers. We will not change this. Visas are only granted if there is a shortage in our country.
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" Instead, the ETCA agreement will seek to boost cooperation in technical areas, scientific expertise and research amongst institutions, boost standards of goods and services able to compete on the global market and improve opportunities for manpower training and human resource development, Wickremesinghe said. "Without an improvement in training we may experience shortages in the future," he added.
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After recent meetings with India's Prime Minister Narendra Modi, the ETCA agreement has been scheduled for mid this year. Around 65 percent of Sri Lanka's exports to India falls under the Free Trade Agreement, but just 25-30 percent of goods from India fall under the FTA, he said.
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Sri Lanka also experiences non-tariff barriers when exporting to India, Wickremesinghe said. The government plans to improve access for Sri Lankan goods to India under this agreement, he said. 70 percent of transshipment and 40 percent of revenue from flights are linked to India, and the government aims to boost these services areas.
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Safeguards to facilitate investment will also be included, he said. The previous government wanted to implement CEPA, but they opposed it due to a provision on movement of professionals, Wickremesinghe added.
PM is becoming more and more aggressive and using same words as “traitor” used previously by a defense secretary…
People should be able to decide the ECTA and its impact from new laws via a referendum. Also PM had found fault with the private sector but the private sector is the one who held the economy up. PM should reduce waste as promised, and reduce the ministers as pledged and reduce state costs, rather than threatening the private sector with more taxes..
ECTA is not to best interest of all, and megapolis document has number of to indicate this.
Journalists should realize the meaning of these below “The projection indicates that an additional 3 million people would be added to the Western Region” and also “The above population growth is projected assuming a “pro-business” labour policies allowing multi-national talents to work in Sri Lanka.” –
THIS MEANS 3M OF INDIANS CAN BE IN WESTERN REGION.!
I wonder how PM can be so aggresive in supporting this without even seeing the Indian version of the draft. Unlike Sri Lankan politicians who want to be internationalist at every turn Indian politicians have a track record of fiercely defending Indian interests.
It seems like PM is using ETCA as “an ointment for all pains”, like we say in Sri Lanka as “කෝකටත් තෛලය”. I criticized then President Mahinda Rajapaksha for depending too much on China, Now the same people who criticized MR are doing the same thing with India. Since the signing of FTA with India in late 90’s, the flood gates have been opening up for Indians to wield enormous power and control over Sri Lankan economy, yet the advantage the Sri Lankans got from FTA was negligible in terms of the size and the growth of the Indian economy over the past 10 years.
And we have heard the grievances of Sri Lankan exporters who export their products to India time and time again, the amount of harassment and embarrassments they have to endure facing cynical Indian bureaucracy despite of using FTA with India. The right thing to do is rectifying the loopholes in current FTA with India to alleviate the pains of Sri Lankan exporters, Instead of that PM is going to give more power and leverage to Indians so they can crush the remaining Sri Lankan industries and to gain complete control over Service sector economy.
As a Sri Lankan expat who worked my whole life in Wall Street Investment banks learning and facing the best and the most challenging persons ever to walk on this earth, I still can’t figure out the thought process behind Sri Lankan politicians and their approach towards economic development. In conclusion I will state that this agreement with India without correcting the existing FTA will be a slam-dunk for Indians and Sri Lankans will continue to live in their Fools paradise not knowing whats going to hit them in very near future.
ETCA will also end any issues in the Indo-Lanka FTA.
Indo Lanka FTA did boost SL exports to india a lot
Either you are outlandishly misinformed or deliberately misleading the viewers and let me explain why:
01. Failures and deficiencies of the FTA needs to be resolved withing FTA Framework not ETCA framework. FTA does have provisions to address issues faced by each signatories, so without invoking them and going into more advanced trade fact is naive and foolish.
02. Unless otherwise specifically stated by each agreement, then the most recent agreement likely to override and supersede certain clauses of previous agreement, this will create a sea of problems and smart, cunning Indians will outplay sloppy Sri Lankan Slobs in every available turn.
03. Sri Lanka never received a fair trade with India, Size of the Indian market and growth of the Indian economy never materialized in Sri Lankan trade. even today Sri Lanka only export mere 600 million USD to India while India exporting more than 3 times of that number. the fact is FTA did not facilitate any growth of Sri Lankan trade to India but it did increase two to three fold indian exports to Sri Lanka.
Bottom Line is Sri Lankans are Royally screwed……