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Saturday, 31 December 2016 - 18:47
Third round discussions on ETCA to be held next week
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Indian media revealed that the third round of talks between India and Sri Lanka on an Economic and Technical Cooperation Agreement will be held in SrI lanka on January 4th and 5th.

Negotiations on ETCA have become tougher and tougher over the past year as both sides are now keen on clinching a good deal without unrealistic compromises.

India’s stand on trade negotiations with Sri Lanka has toughened since the signing of the India-Sri Lanka Free Trade Agreement and its operationalization  in 2000.

Despite many concessions given to Sri Lanka in the ISLFTA, in recognition of the asymmetry between the Indian and Sri Lankan economies, Sri Lankans have been viewing the ISLFTA as being disadvantageous to their country.

There are differences as to when ETCA should be signed.

The Sri Lankan government wanted to sign by December 31st but the Indian Minister of Commerce Nirmala Sitharaman made it clear to them when she visited Colombo last, that there should be no time frame as the concerns of both sides have to be addressed to their satisfaction.

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