Nov 16, Colombo: President Ranil Wickremesinghe has instructed the relevant officials to implement the Singapore-Sri Lanka Free Trade Agreement (FTA) immediately.

The President issued these instructions during the discussion held at the Presidential Secretariat this morning (16) on the implementation of the Singapore-Sri Lanka Free Trade Agreement.

The existing problems in this regard were discussed at length and the President highlighted the need to provide quick solutions to all the existing problems, President’s Media Division said.

Sri Lanka and Singapore signed the Free Trade Agreement on 23 January 2018 during the official visit of Singapore Prime Minister Lee Hsien Loong to Colombo.

However, the agreement was not implemented due to the opposition from various groups. A Presidential commission appointed by the former President Maithripala Sirisena concluded that the agreement has been rushed without proper consent of stakeholder institutions.

President’s Secretary Mr. Saman Ekanayake, Senior Economic Advisor to the President Dr. R.H.S. Samaratunga, Attorney General Sanjaya Rajaratnam, Secretary to the Ministry of Trade, Commerce and Food Security S.T. Kodikara, and Heads of Line institutions were present at this discussion.