Economic Partnership Agreement with Sri Lanka proposed
There is a proposal to enter into a Comprehensive Economic Partnership Agreement (CEPA) between India and Sri Lanka.
Pursuant to the meeting between the Prime Minister of India and Sri Lanka during 2002, a Joint Study Group (JSG) was set up. This Group, in its report submitted to the two Prime Ministers on 20th October, 2003 in New Delhi, has recommended that CEPA could address issues such as reducing items under the negative list, adopting trade facilitation measures like harmonised customs procedures, conclusion of Mutual Recognition Agreements (MRAs). Additionally, the CEPA would include trade in services, investment and economic cooperation. The details of the CEPA are yet to be negotiated by both countries.
This information was given by Shri S. B. Mookherjee, Minister of State for Commerce & Industry, in a written reply in the Rajya Sabha today.
(Release ID :440)