- About bilaterals.org
- How to participate
- Key issues
- Texts of agreements
No CEPA with Pakistan before India
The Island Business | 10 October 2009
Regional politics could lead to damper...
No CEPA with Pakistan before India
Sri Lanka is very likely not pursue a comprehensive economic partnership agreement (CEPA) with Pakistan because a similar agreement with India was put in cold storage last year as Sri Lanka decided not to sign the agreement with India amidst mounting domestic pressure.
"The government is not pursuing a CEPA with Pakistan because the one that was negotiated with India was never concluded," a senior official told the Island Financial Review on condition of anonymity.
As at 2007, Sri Lankan exports to India was ten times as much as exports to Pakistan.
"We would not want to antagonise India just to please Pakistan on this issue," an analyst said.
Minister of Export Development and International Trade, Prof G. L. Peiris was not available for comment in the light of the election campaign in the South while Gomi Senadhira, Director of Commerce, Department of Commerce, was also not available for comment.
Meanwhile, a well informed trade economist told the Island Financial Review that Sri Lanka would not want to antagonise India by signing a CEPA with Pakistan before concluding the CEPA with India which has long being negotiated and haggled-over.
Sri Lanka was supposed to sign the CEPA with India on the sidelines of the 15th SAARC Leaders’ Summit in Colombo in July 2008 but heavy domestic pressure from business fearing they would be overrun prevented President Mahinda Rajapaksa from committing his signature to the document.
But economists highlight the need for Sri Lanka to take advantage of being close to India as India and China are believed to be the two countries that would actually steer the world away from its recession and be growth engines and economic power houses of the post-crisis global economy.
According to Data from the Statistics Division of the Department of Commerce, in 2007, total imports from India amounted to US$ 2.78 billion. Exports amounted to US$ 516.4 million. The trade deficit was US$ 2.26 billion.
Total imports from Pakistan during 2007 amounted to US$ 179 million, exports US$ 55 million and the trade deficit was US$ 123.9 million.
The difficult Indo-Pak relationship has made the regional grouping SAARC, at best, a mere showpiece.
Economic and trade related goals aimed at uplifting living standards of South Asia’s people could never take off the ground because the two biggest countries in the region cannot agree on many of the ‘really’ important SAARC initiatives.
Political issues have precedence over economic issues that can really make a change in people’s lives.
At the Inaugural South Asian Economic Summit in Colombo last year, many economists and technocrats singled out the Indo-Pak relationship as the main spoiler to what SAARC could actually achieve.
Please join the more than 1.7 million people who have signed the European Citizen’s Initiative to stop TTIP and CETA. Help us reach the 2 million mark! https://stop-ttip.org/sign/
News from the movements
22-May-2015 Amigos de la TierraOrganizaciones lanzan una ciberacción para reclamar a los europarlamentarios que apuesten por la gente.
15-May-2015 Cumbre de los Pueblos 2015
Días de Movilización. Por la soberanía de los pueblos frente al poder de las transnacionales y la arquitectura de tratados de comercio e inversionesLes invitamos a un evento público de Lanzamiento de los Días de Movilización el 8 de junio, seguido de actividades de movilización el 9 y 10 de junio en las Maison des Associations en Bruselas.
15-May-2015 Jacobin MagazineOpponents of the trade deal being secretly negotiated between the United States, Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, and Vietnam have moved the discussion beyond its putative impact on jobs and growth and closer to the agreement’s broader ramifications, writes the IUF’s Peter Rossman.
13-May-2015 teleSUROn Monday, a coalition of Peruvian civil society organizations issued a strong warning as negotiations for the Trans Pacific Partnership treaty (TPP) come to an end.
13-May-2015 Common DreamsIn what was immediately heralded as a victory for the grassroots, Senate Democrats on Tuesday stymied President Barack Obama’s corporate-driven trade agenda by voting to prevent the chamber from taking up Fast Track legislation.
13-May-2015 EFFOpponents of sprawling and secretive international agreements won a significant victory today when U.S. Senators voted to block the advancement of its Fast Track trade bill.
12-May-2015 ARTEAvec cette enquête fouillée, qui interroge économistes orthodoxes ou contestataires, opposants au Tafta et simples citoyens, les enjeux de ce traité capital nous sont parfaitement exposés.
12-May-2015 Mining Watch
Stop the suits tour: International investment agreements threaten people and the environment from El Salvador to CanadaIn anticipation of an imminent ruling from a little-known arbitration tribunal at the World Bank that could force El Salvador to pay Canadian-Australian mining firm OceanaGold US$301 million, a Salvadoran delegation is visiting Canada to discuss how investor-state arbitration threatens democratic decision-making, public health and the environment here and beyond our borders.
bilaterals.org is a collaborative space to share information and support movements struggling against bilateral trade and investment deals which serve corporations, not people. Multilingual. Global. No one owns it. Open publishing. Join us.