08 Dec Etca Agreement Sri Lanka
In light of the success of IlFTA, India and Sri Lanka have both sought to expand the existing agreement to promote economic integration through the search for new areas such as trade in services and investment. Following recommendations from a joint task force, a Comprehensive Economic Partnership Agreement (CEPA) was implemented in 2005. After three lengthy negotiations, the EPA agreement was to be signed in parallel with the 15th OSCE summit in Colombo in July. Due to lobbying and the Sri Lankan government`s reservations, EPA negotiations were suspended indefinitely in 2008 after 13 rounds of negotiations. Since then, it has been on hold. Formulating a Trade Policy A country`s trade policy would be consistent with foreign policy, which is how a nation acts and reacts with the rest of the world in terms of foreign relations. Similarly, the state acts and reacts with other states, international organizations and the global economy in its relations with the international community in the economic/trade regime, for which there should be a clear and comprehensive policy to gain the confidence of the world. Trade/trade procedures/procedures have been implemented inconsistently on the basis of the respective governments` policies towards independence, as in other countries such as the United States, the United Kingdom, India or the Russian Republic, where the policy was openly transparent and consistent. The policy pursued by the National Party of the United States until the REGIMEs of the SLFP in 1956 continued in the process left by the British, which was transformed by the governments of the SLFP into a more nationalistic perspective, until the UNP took over the administration and successive governments, until today, had not yet conducted trade in a very incoherent manner.
Currently with the UNP SLFP coalition government, it is not clear whether the policy is the open economy of the UNP or closed Sri Lanka`s political leanings of the SLFP or a mixture of the two which is a chaotic cucumber of many policies with the partners parties TNA and JVP and other small parties. After three years of domination, the President took over the state economy through the powerful National Economic Council to steer the economy, always without a clear and comprehensive trade or foreign policy, because foreign policy is also not properly managed by the President, which has allowed the Prime Minister and the Prime Minister of Foreign Affairs to adopt independent positions that give different signals on the international stage. Even with regard to the ECTA, the property is questionable. It is reported that the documents are written by experts, foreign and local academics and economics in various ministries, under the direction of the Prime Minister, the architect and the Livewire of the operation, which aims to conclude various trade agreements with a number of countries and international organizations. If you have time, read here – Ceylon Chamber Of Commerce. In short, countries have been working on free trade agreements on goods, and they are now working on free (or freer) trade in services. These services come in different modes, the controversial is mode 4, where a person moves from one country to another. Services account for nearly 60% of Sri Lanka`s GDP and these agreements are becoming more frequent. Unlike goods, this means that people can move across borders. Computer experts from India could work in Sri Lanka and Sri Lanka IT professionals could work in India.