Indian trade delegation due here to finalise CEPA

An Indian trade delegation will be in Sri Lanka from January 2-4 to continue discussions on the Comprehensive Economic Partnership Agreement (CEPA) which had been ongoing since 2005.

CEPA discussions have centred around trading in goods and services and the text of the agreement. Issues pertaining to the implementation of the Free Trade Agreement (FTA) such as Vanaspathi and apparel will also be discussed. The export of Vanaspathi was one of the main hurdles that Sri Lanka needs to find a settlement through negotiations.

Director General, Department of Commerce, Manel Silva said issues pertaining to trade in goods and the service sector have to be discussed in a manner that will benefit both countries. "There had been progress made at every stage of discussion. We are optimistic that the talks in January will be fruitful and the text of the CEPA will be finalised," she said.

Secretary, Ministry of Export Development and International Trade S. Ranugge said issues of the service sector will have to be negotiated with much care. Sri Lanka will have to adopt proper strategies in opening the service sector.

The discussions will focus on customs cooperation, various sectors under the agreement, mutual recognition agreement, cooperation in the Ayurveda sector and export of Vanaspathi. The discussions will be headed by the Director General of the Department of Commerce and her Indian counterpart, the Joint Secretary to the Ministry of Commerce.

LF