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| By Samudranil Mukherjee |
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Thursday, May 13, 2010 (12:54:03) |
| Tags : Sri Lanka, India, Comprehensive Economic Partnership Agreement |
India making efforts to bring back CEPA with Sri Lanka |
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| New Delhi, May 13: Following the conclusion of the election procedures in Sri Lanka and with the Rajapaksa government firmly in control of affairs, India is making its best efforts to resuscitate the Comprehensive Economic Partnership Agreement or CEPA with Sri Lanka.
Both India and Sri Lanka have a Free Trade Agreement. They had also reached negotiation stage for a CEPA that should have been sealed in 2008. However, things got delayed due to political stability in Sri Lanka and the battle with the Liberation Tigers of Tamil Eelam only set negotiations further back.
As per sources the foreign secretary of India, Nirupama Rao had talked about the issue with the prominent leaders from Sri Lanka when she visited Colombo a few days ago. The issue is likely to be taken up again when Mahinda Rajapaksa, the Sri Lankan President comes to India in May.
India has been very positive about the revival of economic ties with Sri Lanka. Nirupama Rao has already cautioned the ones who say that the CEPA would prove beneficial for Sri Lanka. The business lobby in Sri Lanka had opposed the CEPA stating that it would be detrimental for national economy. The CEPA between India and Sri Lanka would be covering tariff lines and several other areas of critical economic importance. |
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