Ensure that FTAs benifit the country before they are signed - President

Colombo (News1st) - President Maithripala Sirisena has instructed the Ministry of International Trade and Investment Promotion to conduct an in-depth analysis with regard to the benefits gained by Sri Lanka prior to entering into Free Trade Agreements with foreign countries. Secretary to the Ministry, S.T. Kodikara said based on the instructions, the relevant facts are now being further analysed. Sri Lanka is currently in discussions with Thailand and Bangladesh on the possibility of signing FTAs. Kodikara also noted that a special program is underway to ensure that future actions on the Sri Lanka Singapore FTA benefit the country. The recommendations issued by the special committee appointed by the President, to study the Singapore - Sri Lanka FTA will be taken into consideration for this purpose. The report compiled by this committee was handed over to the President by Chairman of the Committee, Prof. W.D. Lakshman.