Minister of Foreign Affairs, Foreign Employment and Tourism, Vijitha Herath specified that the incumbent federal government of Sri Lanka has actually neither signed nor implemented the Economic and Technical Cooperation Agreement (ETCA) with India.Responding to reports concerning the various contracts signed throughout President Anura Kumara Dissanayakes current visit to India, Minister Herath clarified that there is a need to update the Indo - Sri Lanka Free Trade Agreement (ISFTA), which was signed a number of years ago.Speaking at a special interview held at the Department of Government Information today (20 ), the Minister highlighted that the federal government is working within the structure of the existing free trade agreement.There is also a requirement to upgrade it.
We hope to renew and take forward this arrangement which was signed several years back, with the expansion of the market, he said.He even more reassured the public, saying, We have likewise taken actions to advance discussions on the ETCA.
Contrary to the reports, after the see to India, the ETCA agreement has not been signed, nor has it been implemented.
No such thing has happened.He emphasized that the government would not enter into agreements that might harm the nations economy, worrying that this stays the federal governments core policy.We are prepared at any time to work for the advancement of the economy and trade of both countries, he concluded, reaffirming the federal governments clear position on the matter.