INDIAN COMMERCE MINISTERS SAYS MANUFACTURE OF AUTO COMPONENTS AND DRUGS WILL START IN SRI LANKA SOON
Posted on August 3rd, 2012
by Walter Jayawardhana
Indian Commerce Minister Anand Sharma was quoted having said that his country would help establish a Special Economic Zone (SEZ) to manufacture auto components in Trincomalee soon to cater to auto manufacturing hubs in India.
The Hindu which reported the decision of both governments of India and Sri Lanka which he said was reached last Friday morning also added that at the moment the exact amount of investment cannot be stipulated since the decision was reached hours ago.
The SEZ will cater to auto manufacturing hubs in India, he said and added that India was keen to expand cooperation in these and related sectors.
The Indian Joint Task Force on the SEZ will be announced by Friday evening, he said, after inaugurating the India Show in Colombo on Friday. The JTF will submit its report within 90 days, he added.
The Hindu also reported: ƒÆ’‚¢ƒ¢-¡‚¬ƒ…-India and Sri Lanka will work towards not only enhancing economic co-operation by doubling bilateral trade to $9 billion by 2017, but also for the early conclusion of the Comprehensive Economic Partnership Agreement (CEPA).
Three-day visit
ƒÆ’‚¢ƒ¢-¡‚¬ƒ…-Commerce and Industry Minister Anand Sharma will be in Colombo for three days from August 3. He will be meeting his counterpart Rishad Bathiudeen to discuss ways to widen the free trade agreement in goods and expanding it to include services and investments. He would also be attending the India Show.
ƒÆ’‚¢ƒ¢-¡‚¬ƒ…-Mr. Sharma is also scheduled to meet Sri Lankan President Mahinda Rajapaksa. ƒÆ’‚¢ƒ¢-¡‚¬ƒ…-Mr. SharmaƒÆ’‚¢ƒ¢-¡‚¬ƒ¢-¾‚¢s visit would set the tone for doubling the bilateral trade to $9 billion by 2017 and also move forward the dialogue process for early conclusion of CEPA,ƒÆ’‚¢ƒ¢-¡‚¬ƒ”š‚ an official statement said.
ƒÆ’‚¢ƒ¢-¡‚¬ƒ…-At present, bilateral trade stands at $4.5 billion. CEPA is aimed at liberalising trade in services and investments by updating existing agreements on investment protection and avoidance of double taxation. Mr. Sharma will also discuss the scope of strengthening the economic and trade cooperation between the two countries, it said.
ƒÆ’‚¢ƒ¢-¡‚¬ƒ…-Over 108 Indian companies would showcase a wide range of products and services, including automobile, engineering, infrastructure, tourism, food processing, ICT, financial services, pharmaceuticals and education.
ƒÆ’‚¢ƒ¢-¡‚¬ƒ…-The minister also announced the setting up of a pharmaceutical manufacturing hub in Sri Lanka. He said that within 30 days a team from the apex body governing pharma issues in India will visit Sri Lanka to work out the details.
ƒÆ’‚¢ƒ¢-¡‚¬ƒ…-Mr. Sharma said that India and Sri Lanka will aim to double the bilateral trade by 2015. This year, India-Sri Lanka trade crossed the USD 5 billion mark.
ƒÆ’‚¢ƒ¢-¡‚¬ƒ…-The signing of CEPA will make the current economic engagement more comprehensive by bringing more investment and services into Sri Lanka. Mr. Sharma said that the two Commerce Secretaries will resume dialogue on CEPA, and resolve all related issued. He asserted that Sri Lanka will be given preferential access to the ƒÆ’‚¢ƒ¢-¡‚¬ƒ…-big Indian market.ƒÆ’‚¢ƒ¢-¡‚¬ƒ”š‚
August 3rd, 2012 at 4:09 pm
Never trust an Indian…
They probably have serious ulterior motives. Anyway Indian pharmaceuticals will kill more people than cure. The people of Sri Lanka should not allow ANY INDIAN EXPANSION IN SRI LANKA. We should oppose CEPA. CEPA (like 13th Amendment) is another nail in the coffin.
August 3rd, 2012 at 4:32 pm
Never trust an Indian.
“If you see a cobra and an Indian kill the Indian first” is a popular saying in SE Asia.
Why do we admit these jokers to our country ? Stop the Bajaajs completely!
All Sinhalese should rally to boycot Indian rubbish. Do not travel to India until further notice !
August 3rd, 2012 at 9:23 pm
SPECIAL ECONOMIC ZONES ARE STARTING DUE TO 2 REASONS SPECIFICALLY UNDER US INSTRUCTIONS
(1) TO KEEP INDIAN HEGEMONY OVER SRI LANKA
(2) TO KEEP THE ISLAND UNDER US DICTATES AND PRESSURE
THE RAJAPAKSAS HAVE NO MANDATES FROM THE PEOPLE TO DO IT. THIS SHOULD BECOME AN ISSUE IN THE COUNTRY,
August 3rd, 2012 at 11:35 pm
The primary objective of the Indians is to transform our Motherland into another ‘Singapore’, but in a manner which will ensure that the ensuing economic benefits will accrue only to Mother India. The Indians are not investing in key sectors of our economy simply because they love Sri Lanka and it’s people. They are seeking to establish a tight grip on our economy. There is a strong rumour that meetings are held regularly at a big Indian-owned Hotel attended by many Indian Professionals & Businesspersons working in Sri Lanka where critical information is shared and deals are struck – in keeping with the Indian Business Philosophy “Be Indian – Buy Indian”. Moreover, our Government is apparently being coerced into signing CEPA, which among other things will open the doors for the entry of more Cockroaches from the Toilet of South Asia into our Labour Force. We must show our resentment and anger at this ‘Indian invasion’ by boycotting the on-going Indian Exhibition at the BMICH for starters.
August 4th, 2012 at 2:54 am
Indian tourists = illegal immigrants
Indian medicine = worthless crap
Indian vehicles = piles of junk
Indian movies = utter crap
India = the largest open sewer on earth
August 4th, 2012 at 2:58 am
As Appuhamy has said, it is time HE the President sees the writing on the wall.
THIS GOVERNMENT HAS NO MANDATE TO APPEASE INDIA AND US AT THE EXPENSE OF THE SINHALESE MAJORITY.
August 4th, 2012 at 6:26 am
I – IMPOVERISHED
N – NASTY
D – DESTRUCTIVE AND
I – IDIOTIC
A – A***HOLES
August 4th, 2012 at 6:35 am
N for Naked is better.
August 4th, 2012 at 7:45 am
India has a long way to go to match up to western standards of commerce. However, not all products from the west are good viz. Genetically Modified (GM) products and seeds, massive oil spills into sea waters from well known oil giants, pollutants spilled into atmosphere plus CO2 increases causing climate change & global warming.
Recently we saw a tv clip where a western expert on economics stated that the west is ‘gently wooing India …’ , whatever that means for India. India has recently refused the opening of some 500 Walmarts (under Indian name), all over India. Also saw a news item in the LankaPage that US is advocating that Sri Lanka continues trade with China & India. So who is doing the pushing here ?
The worst tragedy may be importing of Indian labor into Lanka. Tamil Nadu labor will suddenly become “Indian” labor ? This must be prevented at all costs.
We may be forced to accept the expanded CEPA, but we must refuse certain items absolutely inimical to Sri Lanka such as “Indian labor”.
August 4th, 2012 at 2:06 pm
If India allowed to run factories, at least thousands will be employed. Free Trade Zones estabilished. What happened? Many Taiwan companies ran away without paying bills and salaries to the employees. Did any one take action? Is it OK to run away?
August 4th, 2012 at 3:16 pm
“DMK leaders have appealed to the people to attend the Tamil Eelam Supporters’ Organisation (TESO) conference to be held here on August 12.
DMK Rajya Sabha member Kanimozhi said on Friday that it was the duty of every Tamil to attend the conference as party president M. Karunanidhi had convened it with the objective of securing peace for the Sri Lankan Tamils. In a statement here, she said the conference would take steps to heal the wounds of the Sri Lankan Tamils, who suffered in the hands of the Sri Lankan majoritarianism and discrimination.
DMK treasurer M.K. Stalin called upon the members of the youth wing to participate in the conference in large numbers, wearing the uniform of the youth wing.”
From the Hindu online.
Uniform of the youth wing is the LTTE uniform.
August 4th, 2012 at 4:57 pm
‘MuDalit’ Just go to Meerigama and see the pollution caused by a single Indian factory! IOC Trinco plant is on strike because IOC hasn’t paid salary arrears. How many Indian ‘tourists’ actually leave Sri Lanka? Let alone visit a beach??? Indians (including you) are nothing more than cockroaches and parasites.
August 4th, 2012 at 4:59 pm
Dham
N = Naked Nigantas (inluding ‘MuDalit’)
We also need to get rid of this ‘Headless’ Media and group of companies, owned and run by Indian scum of the earth.
August 5th, 2012 at 1:32 pm
mjaya, lorenzo, dham,
A bit more load name calling, you never know you may scare the Injuns!
Meanwhile, the caravans moves on…
August 5th, 2012 at 2:04 pm
Indian Micro,
Too bad your India is not doing well home.
August 5th, 2012 at 3:32 pm
Check the indian figures of exports.go to bangalore. See what is that?
August 6th, 2012 at 8:29 am
India’s biggest problems are huge numbers in population and large numbers in poverty. India will do whatever has to be done to protect herself, including watching her backyard of separatist Tamil Nadu, & Sri Lanka as a small but close neighbor. We cannot expect anything else from India. If India is ‘helping’ us it is because it protects and helps India.
Sri Lankans should try to solve their own problems in the best way possible, without upsetting regional comfort zones of giant countries. If Sri Lankans expect favors, do not forget that it comes with some sort of price tag, sooner or later. As they say, there is no such thing as a free lunch.
August 6th, 2012 at 10:21 am
Fran shows some “sense”.