The Government is attempting to expedite the signing of the Economic and Technology Cooperation Agreement (ECTA) with India in the wake of Britain leaving the European Union, would amount to a jump from the frying pan into the fire, the joint opposition charged today.
Former UPFA MP G.L. Peiris told a news conference that any quantum leap to open the service sector to another country should be taken after an in-depth consideration of the foreign trade agreements.
He said Sri Lanka should first rectify the shortcomings of the Free Trade Agreement (FTA) signed with India before expanding trade between the two countries.
“The government is using Brexit as an excuse to expedite ETCA which has been rejected by professionals and intellectuals in Sri Lanka. ETCA is a promise given by the Government to India for helping it to come to power. If the government signs the agreement without rectifying the FTA, it will be similar to the idiomatic jump from the frying pan into the fire,” he said.