President appoints experts to study FTA with Singapore

President Maithripala Sirisena last week appointed a committee of experts to study the Sri Lanka-singapore Free Trade Agreement (SLSFTA) and submit a report.

The President’s Media Division (PMD) said he appointed the committee after taking into consideration views expressed by various parties over the issue. The five-member committee is headed by W.D. Lakshman, former Vice Chancellor of Colombo University and Emeritus Professor of Economics.

The other members are: Sirimevan Colombage, Emeritus Professor of Economics at the Open University, Ajitha Tennakoon, Emeritus Professor of Economics at the University of Kelaniya, independent consultant Dr. Sanath Jayanetti and the Central Bank’s former Assistant Governor R.A. Jayatissa.

In addition to studying the SLSFTA, the committee is expected to make recommendations regarding the practical impact and uses of the proposed new trade policy and offer guidance on formulating Sri Lanka’s future trade policy, the PMD said.

The committee’s scope includes studying how the Sri Lankasingapore FTA could impact institutions providing various services in Sri Lanka, its potential impact on the country’s social and economic situation and the people’s standard of living.

The committee is expected to submit its report within two months, though the President will check on the progress of its work from time to time through interim reports.

Any interested party is welcome to make submissions before this committee, the PMD added.