Friday, 25 April 2025
CEPA a bane for local industrialists

CEPA a bane for local industrialists Featured

The comprehensive economic partnership agreement (CEPA) proposed to be signed between Sri Lanka and India will place local industrialists and professionals at great risk, warn economists.

The agreement will allow companies from India, a country with a massive market and considerable unemployment, to start businesses in the island without paying tariffs.

Also, Indians will easily be able to find employment here and send their earnings home without any trouble.

Even under the existing free trade agreement, Indian companies send their products to their country posing off as Sri Lankan companies and enjoying tax concessions.

If CEPA is implemented, the job security of hundreds of thousands of Sri Lankans employed in local enterprises will be at severe risk.

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