November 16, 2018

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    TRADE ADJUSTMENT PACKAGE FOR THOSE AFFECTED BY FTAs

    July 18, 2018

    The government will provide a comprehensive trade adjustment package to those who are likely to be affected by Free Trade Agreements, Development Strategies and International Trade Minister Malik Samarawickreme said yesterday. The trade adjustment package will cover new machinery and technology and skills retraining, he explained. Minister Samarawickreme made these observations joining the adjournment debate on the Sri Lanka Singapore Free Trade Agreement (SLSFTA) yesterday.

    Minister Samarawickreme observed that the only way to increase people’s income for them to achieve a better quality of life is to integrate more with the global market. He highlighted that the government will strengthen the local industries to compete in the global market. “Naturally, we are mindful of the impact on the industries present today, but that cannot be our only consideration.

    “Our government is committed to assisting and improving local industries. However, assistance does not mean protectionism. We will assist the local industries to increase efficiency and productivity and help them to be more competitive so that they can compete in the world market. Already we have launched loan schemes and exporter upgrading grant schemes to help SMEs.” Minister Samarawickreme said.

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