Lankapage Logo CP 19 YEARS
Go Home Home Serving the Sri Lankan community globally since 2000
go to LankaPage.com

Leading News from Sri Lanka::

* Sri Lanka - Singapore agreement brings benefits - Minister Malik
Sat, May 12, 2018, 09:58 pm SL Time, ColomboPage News Desk, Sri Lanka.

May 12, Colombo: Minister of Development Strategies and International Trade Malik Samarawickrema says that local industries or the workforce will not be affected by Sri Lanka - Singapore Free Trade Agreement.

Minister Samarawickrama says the agreement was signed only after it was approved by the Attorney General and the cabinet.

The Minister noted that under the agreement foreigners cannot freely come and work in Sri Lanka and local engineers and architects will not be affected by the agreement as some parties claim.

He said that although some people say that there is a danger of goods produced in another country, entering Sri Lanka through the Free Trade Agreement, it is not true and there is a limit one can bring in if an investment is being made.

He said that the government will not lose income on revenue taxes and Sri Lanka will get many benefits through the Free Trade Agreement.

Sri Lanka and Singapore signed the Sri Lanka-Singapore Free Trade Agreement (SLSFTA) on January 23, 2018. The SLSFTA is the most comprehensive trade agreement covering goods, services, investments, trade facilitation, intellectual property rights, and government procurement.

The free trade agreement is expected to benefit Sri Lanka through cheaper consumer goods and inputs, foreign direct investment (FDI), and competition.

 

ColomboPage - Recent 10 Stories ::
Thai Business Delegation briefed on Sri Lanka's Investment Potential
-- [4 hours ago]
Engineering Faculty of Peradeniya University closed indefinitely
-- [5 hours ago]
Special program launched to update websites of all Divisional and District Secretariats
-- [6 hours ago]
Sri Lanka Navy arrest four Indian nationals with 36 kg of Kerala cannabis
-- [7 hours ago]
Sri Lanka Navy rescues two Indian fishermen drifting in the sea
-- [7 hours ago]
Malaysia's Salcon bags US$ 17 million contract to build storm water pumping station in Sri Lanka
-- [8 hours ago]
Sri Lanka Minister apologizes for statement regarding death penalty and wrongdoers in high places
U.S. to grant Sri Lanka Rs. 80 bn to strengthen development - State Minister
Former police OIC, DIG arrested over Lasantha Wickrematunge's killing granted bail
Adjournment debate on the New York Times report in Sri Lanka parliament on Thursday

Copyright © 2000, 2016 by LankaPage.com (LLC) :
The news and other contents on ColomboPage are copyrighted property of LankaPage.com, LLC. Any unauthorized use of any information on ColomboPage may constitute a violation of copyright laws. You need written permission to reproduce, republish, post, transmit, broadcast or distribute, material from this site from LankaPage.com, LLC. However, news organizations or broadcasters in Sri Lanka may republish the news items in ColomboPage with proper acknowledgment to ColomboPage.