Home / News/ JO action on S’pore FTA hinges on independent committee outcome

JO action on S’pore FTA hinges on independent committee outcome

Comments / {{hitsCtrl.values.hits}} Views / Thursday, 11 October 2018 00:00

The Joint Opposition (JO) on Tuesday revealed that if the independent committee appointed by the President to study the Free Trade Agreement (FTA) signed with Singapore concluded that the FTA would not yield negative effects then it would not oppose it. 

President Maithripala Sirisena appointed an independent committee on 11 August comprising five experts to study the FTA signed with Singapore chaired by Prof. W.D. Lakshman. 

Other members include Prof. Sirimevan Colombage, Prof. Ajitha Tennakoon, Consultant Sanath Jayanetti and former Central Bank Assistant Governor R.A. Jayatissa. The committee is expected to submit its report within two months. 

Addressing a press conference in Colombo, MP Bandula Gunawardane said that the items included in the Singapore FTA would be imported without any restrictions, which would further depreciate the Sri Lankan rupee. 

“The President has understood that the FTA signed with Singapore will lead Sri Lankan industries to a dead end. And the agriculture sector will also be affected by this FTA,” he stated.

He added that economic experts and professionals who met President Sirisena had highlighted the negative effects of the FTA inked with Singapore. 

“That is why the President has appointed an independent committee to study the clauses of the FTA and assess the positive and negative outcomes of it,” he added

Meanwhile, he said that both the President and Prime Minister Ranil Wickremesinghe were on foreign tours at moment while the country was facing serious challenges. 

“The prevailing crisis situation has a negative effect on agriculture as well. Farmers are in a very difficult situation due to the drought and have not been able to market their products but the Government has not taken any major decisions to curb the situation,” he asserted.

Share This Article


1. All comments will be moderated by the Daily FT Web Editor.

2. Comments that are abusive, obscene, incendiary, defamatory or irrelevant will not be published.

3. We may remove hyperlinks within comments.

4. Kindly use a genuine email ID and provide your name.

5. Spamming the comments section under different user names may result in being blacklisted.


Today's Columnists

Fruits, flowers and futile triumphalism at Galle Face?

Wednesday, 19 December 2018

Every morning, I play voyeur and watch that nice neighbourhood uncle pluck flowers to pooja-fy his guardian deities. He is quite religious about it. And industrious to boot. The problem, of course, is that he doesn’t restrict himself to his garden.

Will Kyaukpyu overtake Gwadar and Hambantota?

Wednesday, 19 December 2018

China last month signed a $1.3 billion contract for Myanmar’s Kyaukpyu port project. The figures doing rounds in media in the run up to this port deal were as high as $7.9 billion which had ignited enormous curiosities. The Chinese had been negoti

Things to do in a Democracy when you’re dead…

Tuesday, 18 December 2018

In yesterday’s column, I argued a case for not impeaching the chief executive of the coup that has left our country situation in ruins. At the end of a pitched battle between the forces of unconstitutional ambition on one hand and democratic resist

Tweaking the New Inland Revenue Act (Part II)

Tuesday, 18 December 2018

In the backdrop where the recent amendment to the country’s supreme law is called in question, it may be appropriate to recall that the passage of the new Inland Revenue (IR) Act through Parliament was far more controversial. Nevertheless, the new

Columnists More