The draft framework agreement prepared by Sri Lankan Government side on the proposed Indo-Lanka Economic and Technology Cooperation Agreement (ETCA) was distributed among the Party Leaders in Parliament, Development Strategies and International Trade Minister Malik Samarawickrema said.
He was responding to a question raised by Chief Opposition Whip Anura Kumara Dissanayake in Parliament yesterday.
He said a copy of the draft framework agreement has already been sent to India, adding that the Ministry was awaiting the response from the Indian Government.
"We expect a reply within about 2-3weeks. Then both sides can discuss and proceed on to sign the framework agreement.
We will also table it in Parliament once agreed. Then we can work on the final agreement based on the scope given in this framework agreement. We will discuss with all concerned parties before we proceed to sign the final agreement. The final agreement will also be tabled in the House. We can even have a Parliament Select Committee to look into it," he said.
The Minister said a study on the agreement was carried out by the Institute of Policy Studies (IPS). MP Anura Kumara Dissanayake intervening at this point questioned the credibility of the IPS report as the Head of the IPS, Dr Saman Kelegama, is a Consultant to the formulation of the new agreement proposed as ETCA.
The Minister stated the report contains only the facts, adding that the Government has nothing to hide with regard to the agreement. "We are acting in a very transparent manner. The report was compiled not by Dr
Kelegama, but by Sumendra P. Jayaratne and Janaka Wijesiri" he replied.
The Minister further said as for the Free Trade Agreement signed with India, Sri Lanka had only exported goods worth of USD 8.6 million in 2000, but, this amount had risen to USD 425 million by 2015. He said out of the total exports to India from Sri Lanka, 66 percent had been exported under the FTA in 2015.
"In 2000, Indian imports to Sri Lanka under the FTA amounted to USD 53.9 million and this was USD 250 million in 2015. The total Indian imports stood at USD 4.2 billion in 2015, but only 6 percent of this had been imported under the FTA. The majority of the imports had been outside the FTA and those include oil, vehicles and cement," he added.
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