The government will provide a comprehensive trade adjustment package to those who are likely to be affected by Free Trade Agreements, Development Strategies and International Trade Minister Malik Samarawickrama said yesterday. The trade adjustment package will cover new machinery as well as technology and skills retraining, he explained.
Minister Samarawickrama made these observations joining the adjournment debate on the Sri Lanka Singapore Free Trade Agreement (SLSFTA) yesterday in Parliament.
Samarawickrama observed that the only way to increase people’s income to enable them to achieve a better quality of life is to integrate more with the global market.
He also stated that the government will strengthen local industries to compete in the global market.
“Our government is committed to assisting and improving local industries. However, assistance does not mean protectionism. We will assist the local industries to increase efficiency and productivity and help them to be more competitive so that they can compete in the world market.
Already we have launched loan schemes and exporter upgrading grant schemes to help SMEs.” Minister Samarawickrama said.
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