Sri Lankan opposition seeks more transparency on CEPA with India

Sri Lanka's main opposition is demanding that the government reveal a controversial trade deal with India despite official assurances that it would not be negative for the country, an opposition legislator said here on Tuesday. The main opposition, United National Party (UNP) Member of Parliament (MP) Harsha de Silva told Xinhua that they are not opposed to the Comprehensive Economic Partnership Agreement (CEPA) with India but more transparency is needed. "We have been asking for a parliamentary committee to study the issue and to have the CEPA document released for public discussion. So far there has been no positive response from the government," he said. The call comes after Sri Lankan Commerce Department Director General Dr. Gomi Senadhira, who is one of the key negotiators of CEPA, told a business forum that a new framework for the agreement has been finalized between the two countries. It is now up to the Sri Lankan government to decide how they wish to proceed. The CEPA was originally expected to be signed in 2008 but due to local industry protests, Sri Lanka has dragged its feet. The first Free Trade Agreement in South Asia was signed between Sri Lanka and India in 1998 and has contributed to trade between the two countries growing tenfold in the past decade. CEPA is expected to broaden trade between the two nations but Sri Lankan businesses are worried that Indian competition will wipe out their companies.