Premier Wickremesinghe opines on Brexit effect on Sri Lanka

Premier Wickremesinghe opines on Brexit effect on Sri Lanka

Premier Wickremesinghe opines on Brexit effect on Sri Lanka

Written by Tharushan Fernando

26 Jun, 2016 | 8:59 pm

Prime Minister Ranil Wickremesinghe, addressing an event held at the Galle Town Hall on Sunday to promote the activities of the United National Party,  expressed his opinion on Brexit, or the United Kingdom’s decision to leave the European Union

“Our opinion is that the United Kingdom should remain in the Single European Market”,  charged Prime Minister Ranil Wickremesinghe who pointed out that Sri Lanka sends 40% of imports to  that market, and if the United Kingdom leaves the EU, it will cause and economic crisis. However, this will not affect the large apparel factories in Colombo, instead it will affect smaller companies in rural areas, pointed out the PM.

The Premier added that there is hope that Sri Lanka can enter into trade agreements with the United Kingdom but it cannot be said as to when it will be exactly done.

The Prime Minister also added that after UK’s decision to leave the EU, financial markets crashed along with the value of the sterling pound which poses a problem for Sri Lanka as 10 percent of the country’s foreign reserves are in sterling pounds – and this will affect other countries in the same way it will affect Sri Lanka, said the PM>

Party membership was also provided to a number of district representatives.

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