CEPA can benefit Lanka if properly drafted - Exporter

Ramani Kangaraarachchi

The Comprehensive Economic Partnership Agreement (CEPA)has to be a win-win situation for Sri Lanka and India. Speaking on the Role of Professionals in Safeguarding Sri Lanka interests in CEPA with India, KIK Lanka Chairman Lalith Kahatapitiya said it should be transparent and have the approval of responsible people of the country before signing the agreement.

At a public seminar organized by the Organization of Professional Association of Sri Lanka (OPA) yesterday, he said an Inter Agency Committee has been appointed to submit a new draft agreement as the previous one had many loopholes.

He hoped that all responsible parties will be consulted and approval taken before re-submitting the new draft. Elaborating on the importance of transparency of the Agreement he said that everything must be defined including all annexurs properly to avoid misunderstandings later on.

This would help to maintain the longstanding and close relationship between the two countries. He said the idea of a CEPA came into discussion in 2000 for the first time but it was made public finally in 2008.

Many people objected to it on the basis that it was not transparent enough.

However with the end of war the situation in the country has changed drastically.

Therefore the agreement should change to suit the current situation in Sri Lanka.

He said there could be a clear advantage to Sri Lanka by obtaining access to one of the biggest markets in the neighbourhood.