Expert committee to review Singapore – Sri Lanka FTA calls for public opinions

Friday, 24 August 2018 00:00 - - {{hitsCtrl.values.hits}}

The expert committee appointed by President Maithripala Sirisena to study the Singapore – Sri Lanka Free Trade Agreement has decided to gather views from organisations and the public.

The public and organisations can submit their views and opinions to the committee until 27 September. Entities that hope to communicate their proposals verbally can book an appointment before 27 September.

The committee, chaired by retired Economics Professor W. D. Lakshman, will study the Sri Lanka – Singapore Free Trade Agreement and its practical impact, and a report will be submitted within two months. It is also expected to get recommendations to prepare policies for a future Sri Lanka trade policy. The committee will submit its report to the President on:

- Reviewing the new trade policy paper of the Agreement

- Projections on how the removal of Import Duties - within a period of three years - will impact domestic industries and the consumer

- Assessments of the impact the Agreement would have on other service sectors of Sri Lanka

- The preparation of policy guidelines on how the Sri Lanka – Singapore Trade Agreement should take shape for the future

Sri Lanka and Singapore signed the Free Trade Agreement on 23 January during the official visit of Singapore Prime Minister Lee Hsien Loong to Colombo.