India and Srilanka are in the process of signing an Economic and Technological Cooperation Agreement (ETCA). This would be an improved version of the free trade agreement. About ETCA: the Indo-Lanka Economic and Technological Cooperation Agreement is a trade agreement. The ETCA agreement aims to promote cooperation in technical fields, scientific expertise and research between institutions, improve standards for goods and services capable of competing in the global market, and improve opportunities for workforce training and human resource development. Analysis: However, it would be difficult for the Sri Lankan government to convince xenophobic forces on its territory to support the economic pact of the three nations. The Indian government should be cautious when it comes to responding to the interests of the island state, otherwise the opportunity to rebuild the Indo-laques relations that resulted from the regime change in Sri Lanka would be lost. The Economic and Technical Cooperation Agreement (ETCA) will be negotiated as an extension of the existing free trade agreement and is expected to be signed by the end of the year. It will include the five fastest growing countries in southern India, with a population of 250 million and a common GDP of $400 billion, and Sri Lanka with a $80 billion economy. That would represent the GDP of the sub-region of $500 billion. This would roughly equate to the Swedish ETCA economy aimed at attracting investment in this $500 billion economy. The ETCA would facilitate trade in services, investment and technological cooperation. The agreement will improve cooperation in technical areas, standards of goods and services, scientific expertise and opportunities for workforce training and human resource development.
Dr. Haritha Aluthge, MEMBER of the OMG: “We have drawn attention to the type of damage that will be done to the Sri Lankan trading community. We were informed by the minister that they would not complete the ETCA until they had read and studied the facts of the agreement.  This article is based on “The Delhi-DC strategic dance” published in the Hindustan Times on 27.10.2020. It discusses the impact of the signing of the basic agreement on trade and cooperation between India and the United States on the signing of the Exchange and Cooperation Agreement in the context of geographic data research (BASIC).