The Cabinet spokesman Minister Keheliya Rambukwella said at the Cabinet press briefing today that the signing of the agreement was late due to protests from certain sectors.
Minister Rambukwella pointed out that the CEPA was focused at the bilateral talks between Sri Lanka President Mahinda Rajapaksa and Indian Prime Minister Manmohan Sing.
Sri Lanka President explained about the protests from certain sectors of his country against signing CEPA, the Minister said adding that the Indian Prime Minister has nodded to amendments.
Minister Rambukwella also said that there would be more benefits that can be reaped than the disadvantages from the agreement.
Minister Rambukwella accompanied the President to in his recent tour to India.
Some Sri Lankan groups argue that CEPA benefits India more than Sri Lanka and would adversely affect Sri Lankan businesses.
Under CEPA, Sri Lanka will open 32 new tariff lines, while India has agreed to open 114 items. In the area of services, India will open around 80 sub-sectors, while Sri Lanka will open sectors in a more gradual approach with about 20 sub-sectors.
Economic experts say the dangers highlight by the opponents to CEPA is imaginary and signing CEPA will result in huge opportunities for Sri Lankan professionals in one of the most attractive, high-growth markets in the world.
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