The American Chamber of Commerce Sri Lanka hosted an interactive luncheon with the Chair of Political Economy and Governance at the Institute of Democracy and Economic Affairs in Malaysia, Razeen Sally, in Colombo on Thursday.
Chair of Political Economy and Governance at the Institute of Democracy and Economic Affairs in Malaysia, Razeen Sally, speaking during the event, said that the Trans-Pacific Partnership has a number of countries that are already interested in joining – up to about 20.
He went onto note that the other thing to bear in mind is that this is a really strong agreement that would liberalise trade goods in services, in investment, in government procurement, it would open up markets to competition.
Furthermore, he noted that Sri Lanka at the moment, has a lot of protectionist restrictions across the economy, so it is not in a position to join and it would have to make really big serious reforms in many many areas, in order to be in a position to join, that’s why its going to be so tough.
Discussions were focused on the importance of Trans Pacific Partnership to Sri Lanka.