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The President of the National Chamber of Commerce, Thilak Godamanna last week said the NCC is seriously concerned of tariff liberalization programme and the preparation list of the parties under the existing Indo-Sri Lanka Free Trade Agreement but would like to discuss the business aspects of the proposed Economic and Technology Cooperation Agreement (ETCA) between India and Sri Lanka.

“It is now very clear that Indo-Sri Lanka FTA signed on December 28, 1998 will be part and parcel of the new agreement (ETCA) to be signed soon. The NCC is seriously concerned of tariff liberalization programme and the preparation list of the parties under this agreement,” Godamanna said addressing the 57th Annual General Meeting of the Chamber.

He noted that the NCC would like to draw the attention to the fact that Sri Lanka does not have anti-dumping regulations implemented in this country.

“Under this situation the Sri Lankan economy can face serious difficulties and even cause serious damages which we believe cannot be recovered easily. Additionally Sri Lanka should be concerned of application of preferential safeguard measures in order to protect the Sri Lankan investors,” Godamanna said.