India-Sri Lanka to sign ETCA by year end

Thursday, 06 October 2016 - 13:48

Prime Minister Ranil Wickremesinghe, who is currently on an official visit in India, said that it has been agreed to sign the proposed Economic and Technology Cooperative Agreement by the end of this year.

Reports stated that the Sri Lankan premier reached this agreement when he met his Indian counterpart Narendra Modi.

Prime Minister also participated in the World Economic Forum that commenced today in New Delhi.

Addressing the World Economic Forum, Prime Minister Ranil Wickremesinghe said that signing of the ETCA will help maintain better bilateral economic relations between the two countries.

Elaborating on the matter, Prime Minister Ranil Wickremesinghe noted that his aim is to make Sri Lanka a Value-added-trade hub for goods and services.

He also noted that measures would be taken to relax the country’s existing exchange rules and introduce a liberal tax system.