What Is Etca Agreement

December 20, 2020 in Uncategorized by

Dr. Haritha Aluthge, MEMBER of the OMG: “We have drawn attention to the type of damage that will be done to the Sri Lankan trading community. The minister informed us that he would not complete the ETCA until he had read and studied the facts of the agreement, young Lawyers Circle members said: “We would also like to tell the government that it will no longer sign this agreement, which could have disastrous consequences for the Sri Lankan workforce. According to the details available, India`s insistence forced the government to sign the agreement in secret. We call on the government to start an intellectual discussion on this agreement. As young lawyers, we ask that the government open the agreement to the people and consult with the experts. [21] What is on the table is only an agreement to reach an agreement in 6 months. Officially, no, but basically, yes. If you`re wondering what acronyms they mean, it`s the Economic and Technology Agreement (ETCA) and the Comprehensive Economic Partnership Agreement (CEPA). The impact of the proposed agreement is estimated at an increase in the common economy of $500 billion. [5] It has been compared to the economic union between the countries of Northeast Asia, Taiwan and the People`s Republic of China, as a framework agreement for economic cooperation, and these two agreements share problems with the inhabitants of the island state who fear being underestimated by cheaper workers on the continent. [6] The standing committee is made up of senior officials and is expected to meet at least every two years.

It will be responsible for maintaining close ties with trade and industry, while acting as a platform to resolve changes to the agreement. Both countries believe that the ETCA agreement will improve capacity building in the information technology and shipbuilding sector. According to some reports, the ETCA agreement aims to “promote cooperation in the technical fields, scientific expertise and research between institutions, to strengthen standards for goods and services in order to compete in the global market and to improve opportunities for workforce training and human resource development.” ETCA talks have been slow because Sri Lanka has insisted on further concessions from India, as India has opposed the fact that trade agreements are based on serious and in-depth negotiations. There are two documents, a framework and the agreement itself.