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Sun11182018

Last updateSat, 17 Nov 2018 9am

Local News

Minister Malik Samarawickrema addresses a letter to the Mahanayakas and Anunayakas, explaining the content of the Singapore-Sri Lanka Trade Agreement.

Minister Malik Samarawickrema has addressed a letter to the Mahanayakas and Anunayakas explaining the content of the Trade Agreement signed between Singapore and Sri Lanka. The letter responds to several critical allegations voiced by the 'joint opposition' against this agreement.
It highlights, the agreement was sent for observation by the Attorney General, and thereafter the final draft was tabled before the Cabinet of Ministers on the 16th of January this year, and approved. There is a false belief that the country does not have a proper Trade Policy. The Minister points out, on the 1st of August 2017, with cabinet approval, a new Trade Policy was passed. That Trade Policy was formulated, taking into consideration feedback from state institutions, industry associations and chambers of commerce that have been involved in international trade. The Minister denies accusations that under this agreement a Singaporean Manpower Company will be established, and Singaporeans will be awarded employment in Sri Lanka.
The Minister further stated, within one year after signing the agreement, the two sides can discuss and arrive at decisions, if necessary. In the same way, both parties can terminate the agreement completely, giving a twelve month notice period.