India, Sri Lanka to ink Comprehensive Economic Partnership Agreement
India and Sri Lanka today agreed to sign the bilateral Comprehensive Economic Partnership Agreement (CEPA) on August 1 here on the sidelines of the SAARC Summit.
This would mark the end of the over three years of discussions to boost trade and investment between the two countries with focus on developing Sri Lankas economy.
"It is a win-win situations to both the countries and we both have agreed to reduce the negative lists to give a boost to trade and investment," the Indian Commerce Secretary G K Pillai told reporters.
The major issues regarding trade in services and value addition by Sri Lankan industry were sorted out to the mutual satisfaction, Pillai said, adding the CEPA was expected to be signed on August 1 in Colombo.
A decision to set up a Joint Study Group for making recommendations for CEPA was first announced in April 2003 following which the report was submitted in October 2003.
While the first round of talks on CEPA were held between Commerce Secretaries in Colombo in August, 2004, the next round was held at New Delhi in February, 2004.
Both countries have agreed to undertake a review at the secretaries level every six months and at ministers level every year, Pillai said.
Extracted from,
http://economictimes.indiatimes.com/
This would mark the end of the over three years of discussions to boost trade and investment between the two countries with focus on developing Sri Lankas economy.
"It is a win-win situations to both the countries and we both have agreed to reduce the negative lists to give a boost to trade and investment," the Indian Commerce Secretary G K Pillai told reporters.
The major issues regarding trade in services and value addition by Sri Lankan industry were sorted out to the mutual satisfaction, Pillai said, adding the CEPA was expected to be signed on August 1 in Colombo.
A decision to set up a Joint Study Group for making recommendations for CEPA was first announced in April 2003 following which the report was submitted in October 2003.
While the first round of talks on CEPA were held between Commerce Secretaries in Colombo in August, 2004, the next round was held at New Delhi in February, 2004.
Both countries have agreed to undertake a review at the secretaries level every six months and at ministers level every year, Pillai said.
Extracted from,
http://economictimes.indiatimes.com/
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