SLFP Minister Says Sri Lanka Will Amend FTA With Singapore Within One Year If It Has Clauses Detrimental To Economy

If the Free Trade Agreement between Sri Lanka and Singapore has a cause detrimental to the economy of Sri Lanka, it can be amended within a year, Ports and Shipping Minister Mahinda Samarasinghe said. 

Addressing a press conference in Colombo, Samarasinghe said the FTA could be amended by both parties within one year of signing. 

The Minister said the experts committee appointed by President Maithripala Sirisena to look into the matter would present its recommendations in two months. 

The recommendations, Samarasinghe said, would be discussed extensively at the Cabinet meeting. 

He added that a final decision on amending the FTA would be made by the Cabinet.

The FTA between Singapore and Sri Lanka is the first comprehensive bilateral free trade agreement entered into by Sri Lanka in over 10 years.