Cabinet approval sought to adopt National Trade Policy

International Trade and Investment Promotion Minister Bandula Gunawardena yesterday said that he would obtain Cabinet approval to adopt a National Trade Policy for the country.

He pointed out that such a trade policy will make any present or future Free Trade Agreement (FTA) including the existing Singapore- Sri Lanka FTA advantageous to the both member states.

The Minister made these statements to the media subsequent to an official meeting he had with the Government Medical Officers’ Association yesterday.

Speaking about the Singapore - Sri Lanka FTA, the minister said that an agreement has been signed illegally during the previous regime even when there is no a National Trade Policy in the country. By adopting a National Trade Policy, Sri Lanka would be able to reconsider the clauses and the conditions which are not friendly to the country, he added.

He said, currently, the agreement is only in English; therefore, they would print it in Sinhalese and Tamil also.

According to him, during the meeting held yesterday, the GMOA had requested him to prepare a list of persons who contributed to draft and bring this FTA, which he said is illegal.

The GMOA had requested him that those persons should be convicted as they had contributed for a national hazard.

When asked as to whether the Singapore side will agree to make changes to the agreement that has already been signed, the minister replied that they should do it. 

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