Connect with us

News

12th round of ETCA negotiations conclude

Published

on

In a significant development that marks a milestone in Sri Lanka’s economic and technological journey, the 12th Round of Economic and Technology Cooperation Agreement (ETCA) negotiations between Sri Lanka and India took place from the 30th of October to the 1st of November 2023 in Colombo.

Sri Lanka’s vision has always been to integrate with the largest economies in Asia and East Asia, emphasizing export diversification while maintaining and nurturing existing major export markets. The ultimate goal is to connect with key players through the global value chain to boost the country’s economy and improve the living standards of its people.

The discussions during this round of negotiations hold immense promise. The visit of the President of Sri Lanka to New Delhi on the 29th of July 2023 set the stage for a renewed commitment to the ETCA, which had been on hold since 2018. Both the Heads of States, representing Sri Lanka and India, agreed to comprehensively enhance bilateral trade and investments, especially in new and priority areas.

A delegation of 19 Indian officials, led by Shri Anant Swarup, Chief Negotiator and the Joint Secretary of the Department of Commerce, Ministry of Commerce and Industry of India, visited Sri Lanka. They engaged in extensive discussions on this comprehensive Agreement.

Representing Sri Lanka in these crucial negotiations was the National Trade Negotiating Committee (NTNC), headed by Mr. K.J. Weerasinghe, the Chief Negotiator from the Presidential Secretariat. The Sri Lankan Negotiation Team included representatives from the Ministry of Foreign Affairs, Ministry of Trade, Commerce and Food Security, Ministry of Industries, Department of Trade & Investment Policy, Attorney General’s Department, Department of Commerce, Department of Agriculture, Central Bank of Sri Lanka and Board of Investment, among others.

The discussions during the 12th Round covered a wide range of topics, including Goods, Services, Rules of Origin, Trade remedies, Customs Procedures and Trade Facilitation, Technical Barriers to Trade, Sanitary and Phytosanitary Measures and Legal and Institutional Affairs. Additionally, a special session was dedicated to addressing implementation-related issues of the existing India-Sri Lanka Free Trade Agreement (ISFTA).

This resumption of ETCA negotiations represents a significant step towards strengthening the economic partnership between Sri Lanka and India. It underlines the commitment of both nations to foster collaboration in various sectors, ultimately benefiting their economies and the well-being of their citizens. As the talks progress, it is anticipated that this agreement will open up new avenues for trade and investment, bringing prosperity to both nations in the ever-evolving global landscape.

(President’s Media Division)

News

2 nabbed with gold at BIA

Published

on

By

Two air passengers attempting to smuggle gold worth Rs. 210 million concealed among vehicle spare parts, were arrested by the Criminal Investigation Department (CID) yesterday (May 15).

The suspects, a 26-year-old from Grandpass, Colombo, and a 46-year-old from Rambukwella, Kandy, had arrived from Dubai on Emirates flight EK-650 at 8:30 am.

Both individuals are believed to be couriers operating on behalf of local businessmen, frequently transporting goods from abroad.

Continue Reading

News

Wimal slams govt. over salt prices

Published

on

By

Leader of the National Freedom Front (NFF) – Wimal Weerawansa has stated that while it took 76 years for the price of a salt packet to reach Rs.60, the current government managed to raise the price to Rs. 400 within just seven months.

He made these remarks yesterday (May 15) during a media briefing held at the NFF headquarters in Colombo.

Weerawansa heavily criticized the current government, saying that although it operates under the banner of a so-called “renaissance”, it is in fact a government that fails to take any meaningful decisions.

“It took 76 years for a packet of salt to cost Rs.60. However, within 07 months, this government had raised the price to Rs.350 – Rs.400. This is the drama of the so-called renaissance.”

He also ridiculed the government’s narrative that the salt shortage is somehow part of a shift toward healthy eating habits.

Weerawansa emphasized that the current crisis reflects the government’s incompetence and insensitivity to the grave economic hardships faced by the people.

No salt produced this year – Lanka Salt Chairman

Meanwhile, Chairman of Lanka Salt Ltd. – Mr. D. Nandana Thilaka has stated no salt has been produced this year due to continuous adverse weather and rainfall.

He said that this adverse weather conditions has affected not only Hambantota but many other salt producing areas including Elephant Pass.

He further explained that in 2024, the company had planned to produce 125,000 MT of salt, but adverse weather conditions only allowed for the production of 40,000 MT.

Usually, salt harvesting starts in March every year, but the poor weather conditions have hindered this, according to the chairman.

While there has been a shortage of salt crystals in the market, table salt stocks remain unaffected, he clarified.

He further stated that Lanka Salt Ltd. had issued 100,000 packets of 400g table salt to Lanka Sathosa on May 14, and another 100,000 packets were to be issued yesterday (May 15).

Related News :

Continue Reading

News

Islandwide investigation over substandard fertilizer racket

Published

on

By

The National Fertilizer Secretariat has launched an islandwide investigation to identify and remove substandard fertilizer from the local market.

The probe is being carried out through district Assistant Directors islandwide.

Director of the secretariat – Mr. Chandana Lokuhewage states that the investigation commenced following the recent raid of substandard fertilizer in the Polonnaruwa area.

Police had seized 1,565 bags of urea fertilizer during the raid in Siripura, Polonnaruwa.

Samples from the seized stock are to be sent to Colombo for laboratory testing, Lokuge confirmed.

12 suspects arrested in this regard have been remanded until May 28 after they were produced before the Dehiattakandiya Magistrate’s Court.

Related News :

Continue Reading

Trending

Copyright © 2024 Sri Lanka Mirror. All Rights Reserved