ETCA final draft is still to be released, says State Minister
View(s):Sri Lankan and Indian authorities are now finalising the Economic and Technology Cooperation Agreement (ETCA) which has triggered a major controversy from professional groups.
While ETCA is now at the final stages (as a discussion document) it is yet to be released as a final draft. National Policies and Economic Affairs State Minister Niroshan Perera revealed.
He added that the preliminary draft of ETCA, once finalised, will be presented in parliament and other relevant parties for a comprehensive public dialogue making adjustments to shortcomings in the agreement, he added.
The signing of the agreement will take place thereafter, he disclosed adding that it will be signed by the end of this year (in two months’ time).
Ministers on the two sides are currently working on it. The prime ministers of the two countries – Narendra Modi and Ranil Wickremesinghe have already decided that ETCA must conclude by end of this year.
ETCA offers a strategic economic advantage to Sri Lanka and to the five fastest growing southern Indian states Karnataka, Andhra, Tamil Nadu, Kerala and Telangana with a population of 250 million people and a combined GDP of US$ 450 million, Mr. Wickremesinghe said after meeting with Indian Prime Minister Narendra Modi recently.
With the addition of Sri Lanka’s 22 million population and its 80 billion economy, the GDP in this sub regional economy will cross $500 billion, he pointed out. (Bandula)