A call for Transparency ( Reflective Summary of the editorial in Sunday Observer published on 09.02.2020)

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Today's all the countries around the world have interconnected with the globalization because of the trde and it really important for an island like Sri Lanka as it is situated in the East-West sea route. Since the ancient times, merchants found Sri Lanka as one of the best places to get get spices, gemstones and other riches. As the trade developed worldwide, exporting countries have started to earn duties from exporting products to protect their own industries and some countries which import products, started to earn taxes. This is how the concept of taxes and duties was begun. But if those countries impose the same duty for the products they export and import, both countries lose. As a result of  that; the idea of Free Trade Agreements (FTA) have made. Sri Lanka has made it's first FTAs with India after more than 20 years and it has signed FTAs with several other countries by now. Sometimes FTAs can be disadvantageous to countries with smaller incomes and financial behemoth. Thus, there was a contraction by the opposition politicians, economic experts, professional bodues and many others that the FTA with singapore should be taken after helding a wide debate because it will be something like "shutting the stable door after the horse has bolted".  Some quarters suggest that the FTA must be annul by the givernment, but these are Government - Government agreements which cannot be changed redelliousl.

Sri Lanka Singapore FTA Sealed

However the Attorney general has informed the Supreme court to re-visit the context of the Sri Lanka Singapore FTA signed by the previous Government due to seven fundemental Rights petitions, but it was neither considered nor approved by the Cabinet of Ministers also not disclosed to the public. The same happened with the US$ 480 million Millenium Challenge Cooperation (MCC). This time the government has assured that attention will be paid with reguard to the MCC.Thus the challenge is; identifying the positives, while reducing or eliminating the negetives. This entire situation demands a more transparent process in all international transactions and agreements by any successive government.

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