An expert on international trade has told media that the proposed Economic and Technology Cooperation Agreement (ETCA) would be a step that might discourage other trading partners who had the capacity to open their markets to Sri Lanka.
Former Director General of Commerce, P.D. Fernando speaking to a daily newspaper said a flawed agreement would harm country’s export sector.
He said, “We should make projections of what exactly we would gain from a new agreement. We must analyse the net results of a Free Trade Agreement (FTA) specially with India.
He said ETCA is the first proposed major agreement extending to services, investment, and economic cooperation with India but it needs to have proper parameters to access, analyse, evaluate and monitor the services.
The best route for Sri Lanka is to strengthen existing FTA and narrow the huge trade gap by facilitating exports said the expert.