Sri Lanka expects the Economic and Technology Co-operation Agreement (ETCA) with India to be signed by the end of this year, which will help strengthen economic ties, Sri Lankan Prime Minister Ranil Wickremesinghe on Thursday said.
“The proposed ETCA will be signed by the end of this year… Prime Minister Modi and I have decided that we must conclude it by the end of this year,” he said here at the India Economic Summit.
- Mumbai’s Haji Ali Dargah Trust to SC: Ready to give women access to sanctum sanctorum
- Samajwadi Party Crisis: 5 Quotes By Mulayam Singh Yadav At Press Conference
- Ae Dil Hai Mushkil Vs Shivaay: What Delhites Pick
- Supreme Court Directs Vijay Mallya To Fully Disclose Foreign Assets In 4 Weeks
- 5 Reasons To Watch Ae Dil Hai Mushkil
- BSP Supremo Mayawati Criticises PM Modi Over Triple Talaq: Here’s What She Said
- Google Pixel XL Phone Review: Pros, Cons And Final Verdict
- Defence Minister Manohar Parrikar Says Army donation Is Voluntary
- Rock On 2 Trailer Launch: Farhan Akhtar, Shraddha Kapoor, Prachi Desai On Their Roles
- Cyrus Mistry’s Career Timeline
- Stalker Kills Woman At Metro Station In Gurgaon: Here’s What Happened
- Bigg Boss 10 October 24 Review: Seven Contestants Nominated For Evictions
- Power Struggle In Mulayam’s Party: Here’s What People Reacted
- 1 Dead, 5 Injured In Low Intensity Explosion In Delhi’s Naya Bazaar Area
- Delhi: Naya Bazar Explosion Cctv Footage
He impressed upon the audience the importance of this pact for Sri Lanka and South Indian states.
The five states — Karnataka, Tamil Nadu, Andhra Pradesh, Kerala and Telangana — have a population of 250 million and a combined GDP of nearly USD 450 billion and with the addition of Sri Lanka of 22 million people and USD 80 billion economy, the GDP “in the sub-region will be USD 500 billion”, he said.
“Just imagine if we work together,” the Prime Minister said, adding that ETCA has the potential to promote growth of USD 500 billion sub-regional economy.
ETCA is expected to help Sri Lanka gain better access to India’s rapidly growing market. Wickremesinghe also said the economic asymmetry between the countries is going to increase in future when the “latter (India) emerges as the major global player in an increasingly multi-polar world”.
He added that India and Sri Lanka FTA will be further expanded and deepened to go beyond trading in goods to cover trade in services, investments and technology co-operation.