United Professionals Movement perturbed over FTA with Singapore
Although the government agreed with the United Professional Movement three years ago to formulate a clear cut policy on bilateral agreements with other countries, the state so far has failed to map out such a policy, said Gamini Nanda Gunawardana, Media Spokesman for the United Professional’s Movement (UPM).
The UPM is a collective professional group which expressed dissatisfaction over the recently concluded bi-lateral agreement between Sri Lanka and Singapore at the media briefing held at the Organisation of Professional Association (OPA) in Colombo this week.
“We even proposed to the government to present the bi-lateral agreement between Sri Lanka and Singapore before parliament for debate and to be passed with a two thirds majority before it was signed.”
However the agreement was signed before a proper assessment was made on its impact on Sri Lanka. He said the agreement had created a precedent and has paved the way for other countries such as India and China to sign such bilateral agreements to the detriment of Sri Lanka. “We have filed a petition in courts regarding the agreement and awaiting a judgment.”
Referring to country’s limited water resources, he said if a multinational company was to set up a plant using water resources under a bilateral agreement such a company would be exempted from a tax. However owing to issues raised by the UPM sometime back, the authorities in turn showed its commitment to engage in transparent and ongoing consultations with all stakeholders and decided to establish a joint Working Committee in 2016 with the approval of the Cabinet Sub Committee on Economic Management with Cabinet ministers.
Sri Lanka Architecture Institute President D.H. Wijewardene said that they have no qualms whatsoever of investments coming into the country but the real question was whether this would happen in reality, where such investments would come into the country.
He said several clauses included in the Bi-lateral agreement between Sri Lanka and Singapore are vague and should be brought before the Parliament for a debate to be passed.