Thursday, August 14, 2008

CEPA with Pakistan at initial stage



Sri Lanka and Pakistan have had one round of negotiations for a Comprehensive Economic Partnership Agreement (CEPA) an official of the Department of Commerce said.

"The two countries met once on discussions of the draft text of the CEPA document but the items on the agreement will be subsequently negotiated," Acting Director of Commerce Saman Udagedara told the Island Financial Review.

Udagedara said the Free Trade Agreement currently in force between the two countries included trade in services.

"When the FTA was finalized with Pakistan, only trade in goods had been negotiated. The FTA was signed with the intent of initiating negotiating the schedules for trade in services."

Udagedara said the Department of Commerce had since then consulted the stakeholders of the private sector.

"We have sought their views as to which areas they would like Pakistan to give them market access and the areas we could offer Pakistan," he said.

"However the response from the private sector continues to be poor. Perhaps it is because they do not understand the process and we have had several meetings at the department and have tried to explain it to them."

Udagedara said that it was a stakeholder driven approach the department was taking and said the private sector ought to get more involved.

When the government tried to sign the CEPA with India on the sidelines of the SAARC summit it opened up issues with many in the private sector claiming that they were not adequately consulted.

ILCEPA (Indo-Lanka Comprehensive Partnership Agreement) is still going through the negotiation process and PLCEPA (Pakistan-Lanka CEPA) has just begun and those concerned in the private sector can still voice their concerns and take part in the consultative process and an invitation to do so should not be required, Udagedara intimated.