Pact is safe - Indian High Commissioner

[TamilNet, Friday, 08 January 1999, 19:17 GMT]
Mr.Shiv Shankar Menon, India's High Commissioner for Sri Lanka, addressing the National Chamber of Commerce yesterday said that the Indo Lankan trade agreement has to be implemented to see whether the fear that it might be harmful to Sri Lanka is justified.

He said that India has trade agreements with Nepal and Bhutan but that market opportunities in Sri Lanka are greater.

chandrika_vajpayee.jpg
Sri Lankan President Chandrika Kumaratunga (L) is greeted by Indian Prime Minister Atal Behari Vajpayee as Indian first lady Usha Narayanan looks on during the welcome ceremony in New Delhi, December 28, 1998. -Reuters
Menon said that Sri Lanka has a market open in India that is worth 40 billion rupees and that his government has already lowered tariff on 1000 goods.

He said the tariff on 300 other goods will be completely removed soon and that only 500 items out of 5500 have been included in the negative list, meaning that they will not be subject to any tariff reduction or removal.

Tariffs will be lowered under the trade agreement by Delhi on the remaining goods exported to India from SL during the next three years. Colombo has been granted eight years according to the terms of the agreement to lower tariffs on goods exported to SL from India.

The Indo-Lanka trade agreement that was concluded hastily by the Sri Lankan President during her visit to Delhi has been condemned by sections of the local industrialists and business houses as a sell out which could debilitate the Sri Lankan economy and its manufacturing base.

The High Commissioner's remarks were seen by some analysts as a damage control exercise.


Related Articles:
28.12.98   Indo Lankan trade pact signed

 

Latest 15 Reports
25.07.16 21:12   Photo
2009 genocide justice not going to come from UNP of 1983 pogrom: Shivajilingam
24.07.16 23:00   Photo
Saiva priests protest against Colombo constructing fishing jetty near Nakulesvaram temple
23.07.16 23:09  
Ethnic discrimination in student enrollment exposes reconciliation farce: Tamil academic
22.07.16 19:47   Photo
Tamil student leaders in Jaffna condemn SL Governor Cooray’s remarks in Colombo
21.07.16 01:26  
University engineers not learning lessons
21.07.16 00:21   Photo
Tamil politicians blame SL Military for enticing Sinhala students with triumphalist chauvinism
20.07.16 16:39   Photo
Tamil fishermen rise up against Colombo's move to permanently militarise Pa'l'li-munai in Mannaar
20.07.16 15:21   Photo
NPC demands CoI to go beyond criminal investigations on Jaffna University clash
19.07.16 23:15  
Sinhala-Tamil student clash in Jaffna exposes dangerous proportions of military occupation
18.07.16 18:01   Photo
‘SL President sanctioning 67-feet Buddha statue off Jaffna is act of aggression’
17.07.16 23:46  
Eastern University instructs assaulted Tamil student to attend investigations in Colombo
16.07.16 13:37   Photo
SL military-backed Sinhala students clash with Tamil students in Jaffna University
15.07.16 23:51   Photo
Encouraged by US appeasement, SL military strengthens genocidal grip on North
14.07.16 23:52  
SL Commander of 58 Division twists lists at Mullaiththeevu Magistrates’ Court
13.07.16 23:31   Photo
SL military deployed to rob material remains of houses in Valikaamam North ‘HSZ’ 
 
Find this article at:
http://www.tamilnet.com/art.html?catid=13&artid=2634