REQUEST FOR APPOINTING CHIEF NEGOTIATOR

Despite requests by India, the Sri Lankan government is yet to appoint a chief negotiator for the resumption of talks on the Economic and Technology Cooperation Agreement (ETCA) which is now at a standstill after 14 rounds of discussions carried out under different successive governments in the past for expansion of trade and investments with India, an informed source said.

- KELUM BANDARA

In the wake of U.S. trade tariffs, the Sri Lankan leaders stressed the need to enhance trade cooperation with other countries for diversification of its export destinations. After U.S. President Donald Trump slapped reciprocal tariffs, Sri Lanka requested India to expand the quota to export apparel products under the IndoLanka Free Trade Agreement to 50 million units from the current eight. However, India is keen that it can be considered only in the evolution of ETCA.

The FTA is now considered by both sides to be revisited since the trade landscape between the two countries and globally has changed dramatically since then.