ETCA delayed to June
View(s):The Indo-Lanka Economic and Technology Cooperation Agreement (ETCA) earlier scheduled to be finalised by end 2016, has been delayed to June this year as the third round of talks between the two countries ended inconclusively, officials said.
Both sides have failed to reach a consensus on non tariff barriers, negative lists and several other matters relating to huge imbalance of trade favourable to India and movement of natural persons or personnel, etc.
Although ETCA was have to be signed by December 2016, the talks with Indian side have proceeded at snail’s pace and therefore the negotiations are expected to be concluded in May 2017 and the agreement is to be signed in June, a senior official of the Ministry of Development Strategies and International Trade told the Business Times.
The negotiations – in the midst of protests from Sri Lankan professionals over the proposed pact – have become very tough last year as both sides were keen on getting a better deal without unrealistic compromises. The first round of negotiations on ETCA took place in Colombo in August, while the second round was held in September.
On Thursday, the Indian delegation led by Joint Secretary in Ministry of Commerce and Industry ended the third round of talks.