OPA, SLEA panel discussion today on Indo-Lanka LFTA, CEPA and Beyond

The Sri Lanka Economic Association (SLEA) and the representative body of industry, business, academia and professionals, the Organization of Professional Associations (OPA), will hold a panel discussion entitled  ‘ISLFTA, CEPA and Beyond’ on 11 May at the OPA Auditorium from 5.30 p.m. onwards.

The panel consists of academics, representatives from the business community and professionals.  Among them are Kulatunga Rajapakse, Mineka Wickramasinghe, R.M.B. Senanayake, Subhashini Abeysinghe, Dr. Saman Kelegama and Dr. Sarath Rajapathirana.

Discussions will commence with opening remarks from Chair, Prof. A. D. V De S. Indraratna, President of SLEA. Prof. Sirimal Abeyratne of the University of Colombo will facilitate and keep the discussion lively. 

Organisers said India and Sri Lanka entered into a Free Trade Agreement (ISLFTA) in 1998. This came into effect in 2000. Having implemented it for over ten years both countries have learnt lessons and identified strengths and weaknesses. Discussions are afoot on expanding the cooperation between the two countries through entering into a Comprehensive Economic Partnership Agreement (CEPA) in order to broaden the scope of the current agreement. While ISLFTA covers merchandise only CEPA would go beyond covering consultancy and services.

Government authorities on both sides see this as an inevitable step towards expanding the cooperation between the two countries. The business community in Sri Lanka has expressed concern and serious reservations over this. There is a school of thought that what is needed is a comprehensive study on the ongoing trade agreement and trade relations and performance of the two countries rather than a comprehensive agreement. 

It appears that the business community and the policymakers do not see eye-to-eye on this. As with any agreement, one can find positive and negative elements in existing and proposed trade agreements between the two countries. Being the premier economic associations of the country, SLEA and OPA have decided to bring diverse views relating to bilateral relations between the two countries to the table through a panel discussion.