PNF urges PM to formulate national trade policy

Dr. Anuruddha Padeniya hands over PNF proposal for a national trade policy to Prime Minister Mahinda Rajapaksa – Pic by Sameera Wijesinghe

• Calls on PM to take lead in drafting national trade policy
• Says any future FTAs should be based on national policy

By Nuwan Senarathna

The Professionals’ National Front (PNF), which is affiliated to the Sri Lanka Podujana Peramuna (SLPP), yesterday handed over a booklet containing recommendations on how the Government could form a national trade policy to Prime Minister Mahinda Rajapaksa.

The PNF handed over its proposal at an event held at the Organisation of Professional Associations of Sri Lanka (OPA) to raise awareness on the importance of a national trade policy. The PNF requested the Prime Minister to take a leading role in drafting a national trade policy. 

Speaking at the event, PNF Chairman Dr. Anuruddha Padeniya said the country needed a national trade policy to minimise the disadvantages that could be created by bilateral trade agreements. He argued that if Sri Lanka had a national trade policy the Sri Lanka-Singapore Free Trade Agreement (SLSFTA) could have been negotiated to generate more benefits for Sri Lanka. 

“Almost every country has a national trade policy which will protect its economy. Unfortunately, Sri Lanka does not have a national trade policy and this could put the entire country in a vulnerable situation,” he opined.

Dr. Padeniya argued that the Sri Lanka was yet to identify the importance of having a national trade policy when signing bilateral or multilateral trade agreements. According to Dr. Padeniya, the country had incurred losses through the Indo-Sri Lanka Free Trade Agreement (ISFTA) as Sri Lanka did not have a national trade policy.

“There were promises to improve local industries once the ISFTA was signed but that did not happen. Only India was able to improve its trade. If we have a national trade policy things could have been different, therefore a national trade policy is a must,” he added.

He criticised the previous administration for signing the SLSFTA without a national trade policy. 

“The previous Government did not table the agreement in Parliament to debate on it. It was signed without the knowledge of the public, which needs to be properly investigated and action must be taken against those responsible,” he said. 

The PNF was among several organisations that were extremely critical of the previous Government’s efforts to negotiate free trade agreements and liberalise the economy. They were also against allowing foreign professionals to work in Sri Lanka.