The much touted Sri Lanka – Singapore FTA was signed on 23 January 2018, marking a milestone moment in the trade and economic relations between the two islands. This blog analyses the key features of the FTA and the benefits Sri Lanka can reap from the partnership.
With the Malaysia’s Prime Minister, Najib Razak’s visit to Sri Lanka, there has been a renewed interest in entering into a FTA with Malaysia. If such a FTA comes into fruition, how will it impact Sri Lanka’s trade? Preliminary estimates by IPS suggest that likely gains from bilateral trade liberalization in goods will be limited to few products, but there might be gains from other areas of cooperation, namely in investment flows to Sri Lanka.
In Sri Lanka, the tourism sector boasts of a vast potential to reach economic growth targets. It can also help achieve all 17 Sustainable Development Goals (SDGs). As such, this blog discusses some of the ways in which tourism could make useful contributions towards reducing poverty and inequality, conserving the environment, improving water and sanitation, and promoting public-private partnerships.
There are several Green initiatives proposed in Sri Lanka’s Budget 2018. Among these is an important proposal to provide index-based climate insurance to Sri Lankan farmers – a proposal put forth by IPS in the past. This blog analyses the feasibility of the insurance proposal and how it can be implemented successfully to benefit farmers in Sri Lanka.
Tourism is the third largest revenue earner for Sri Lanka, accounting for US$ 3.5 billion in 2016. With the rise of informal accommodation, there have been both challenges and opportunities in the industry. This blog argues that registering and regulating the informal sector is necessary to create a level playing field in the industry, to maintain standards, and to encourage small service providers.