Minister of Foreign Affairs, Foreign Employment, and Tourism, Vijitha Herath, stated that the Sri Lankan government has neither signed nor implemented the Economic and Technical Cooperation Agreement (ETCA) with India.
Responding to speculation surrounding agreements reached during President Anura Kumara Dissanayake’s recent visit to India, Minister Herath clarified that the existing Indo-Sri Lanka Free Trade Agreement (ISFTA), signed decades ago, requires an update to reflect current trade dynamics.
Speaking at a press conference held at the Department of Government Information today (20), Minister Herath emphasized that the government is operating within the framework of the ISFTA.
“There is also a need to update it. We hope to renew and take forward this agreement, with the expansion of the market,” he said.
Addressing reports about the ETCA, the Minister reassured the public:
“We have also taken steps to advance discussions on the ETCA. However, contrary to the reports, after the visit to India, the ETCA agreement has not been signed, nor has it been implemented. No such thing has happened.”
He further underscored the government’s commitment to safeguarding the nation’s economic interests, reiterating that no agreement would be entered into that could harm Sri Lanka’s economy.
“We are ready at any time to work for the development of the economy and trade of both countries,” Minister Herath concluded, affirming the government’s policy on promoting equitable and beneficial trade agreements.
