ETCA not detrimental to Lankan interests - Minister | Page 2 | Daily News


ETCA not detrimental to Lankan interests - Minister

The Volkswagen plant in Germany

The Indo Lanka Economic and Technical Co-operation Agreement.(ETCA) which is to be inked mid this year will not have any negative impacts to Sri Lanka, International Trade and Development Minister, Malik Samarawickrama said.

Speaking at the Invest in East media event at the Board on Investment (BOI), he said the government responsible for the economic development will not do any thing that will be detrimental to the country. “We will not rush this and will seek views of the Business Chambers, business community, professions and even opposition members.”

He said the framework agreement in this regard will be signed next month. “We hope to sign the agreement in June.We are now consulting and seeking views of business.”

Samarawickrema said that Sri Lanka can benefit from this agreement since the agreement exposures Sri Lankan products and services to one of the largest markets in the world. He also said that they do not have any plans to allow the free the movement of doctors between the two countries.

International Trade and Development Deputy Minister, Sujeeva Senasinghe said the government is looking at doing value addition for some of the Sri Lankan raw materials and the country is looking at manufacturing computer chips and mobile accessories that have high export value.

Asked as to the outcome of the proposed Volkswagen plant in Kurunegala, Deputy Minister Senasinghe said that it’s on track. “The company has already purchased the land to set up the assembly plant.” Asked if the international emission controversy is having a negative impact for Volkswagen’s investment plans he answered in the negative.

“Its true that Volkswagen’s rating saw a dip in the international markets and their market leadership too slipped in several countries. However they have once again regained the market leadership.”

“As for their Sri Lankan plans it’s not a huge investment and they have pledged that their plans will be on track in Kurunegala.”

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