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Friday 19 July 2019
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Signing CEPA, an unwise move – COYLE

Signing CEPA, an unwise move – COYLE

Certain Sri Lankan officials who engaged in discussions with India regarding the Comprehensive Economic Partnership Agreement (CEPA), are openly supporting Indian views, while turning a blind eye to concerns raised by Sri Lankan entrepreneurs, Chamber of Young Lanka Entrepreneurs (COYLE) member and Chairman, Multichemi Group of Companies, Samantha Kumarasinghe told an event in Colombo on Thursday.

“If the Government has agreed to sign the agreement, we think they’re either misled or making an unwise decision,” he said.

COYLE also called for a tightening of regulations in relation to foreign investments and calls on the future Government to take steps to ensure the protection of all local entrepreneurs including SMEs.

There was ample evidence to show that CEPA was not beneficial to Sri Lanka, he said, referring to media speculation about the signing of the controversial agreement following a recent economic summit.

“This particular economic summit was conducted by one of the Chambers which comprised many foreign businesses. They may have an interest in it but really we don’t know if it was the view of the Government,” he said.


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