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Sri Lanka possibly joining RCEP trade deal: ASEAN

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ASEAN secretary-general Kao Kim Hourn hosts a visit by the delegation from the Presidential Secretariat of Sri Lanka led by the president’s senior economic adviser Dr. R.H.S. Samaratunga at the bloc’s secretariat in Jakarta on June 14, 2023.

Jakarta. ASEAN recently hinted at the possibility of Sri Lanka joining the world’s largest trade deal, Regional Comprehensive Economic Partnership (RCEP) agreement, which is set to give its signatories including Indonesia even more benefits.ASEAN Secretary-General Kao Kim Hourn on Wednesday met with the Sri Lankan presidential secretariat, led by the president’s senior economic adviser Dr. R.H.S. Samaratunga, in Jakarta.

“They discussed Sri Lanka’s economic reform agenda, including Sri Lanka’s possible interest in acceding to the RCEP in the future,” an ASEAN press statement reads.

The RCEP encompasses the 10 ASEAN member states, Australia, China, Japan, South Korea, and New Zealand. All  these countries represent 32 percent of the global gross domestic product (GDP).

The RCEP states that new members can join the trade deal 18 months after it enters into force. Such accession is also subject to the consent of the parties. Original negotiating member India can join the RCEP at any time. In 2019, India decided to drop out of the RCEP talks.

The RCEP is set to eliminate up to 90 percent of the tariffs imposed on the goods traded between its signatories over 20 years of coming into force.

Indonesia officially implemented the RCEP at the beginning of this year. The Philippines became the last of the 15 countries to implement the RCEP. This trade pact only came into force in the Philippines two weeks ago.

Government data showed Indonesia-Sri Lanka trade totaled $433.3 million in 2021, but dropped to $314.2 million a year later. The Trade Ministry reported that Indonesia’s main exports to Sri Lanka in 2021 included coconut (copra) oil, natural rubber, and semi-finished products of iron or nonalloy steel, among others. Indonesia mostly imported knitted or crocheted fabrics from Sri Lanka.

Think tank Lakshman Kadirgamar Institute wrote that ASEAN-Sri Lanka trade reached around $4.5 billion in 2019. Sri Lanka’s exports to ASEAN amounted to $396 million, accounting for 4 percent of what the country exported that year. Sri Lankan imports from the 10-member grouping were much higher at around $4.1 billion.

(Jakarta Globe)



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Ex-SriLankan CEO’s death: Controversy surrounds execution of bail bond

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Kapila Chandrasena

Prof. Prathibha Mahanamahewa has emphasised the need to examine the circumstances under which the court staff executed the bail bond, and the release process, in respect of the late Kapila Chandrasena, former Chief Executive Officer of SriLankan Airlines.

Chandrasena’s body was found in a house at Pedris Road, Colombo 03.

In case of any doubt regarding bail condition/s or any other matter (insufficient surety, identity issues, suspicious documents and unclear order), the Registrar had to get in touch with the relevant Magistrate, Mahanamahewa said.

Mahanamahewa was responding to The Island query regarding the acceptance of two Muslims as sureties. Had they followed the time-tested procedure, court registry/registrar staff would never have accepted sureties as blood relatives of Chandrasena, Mahanamahewa said, alleging a major defect in the execution of the bail bond.

They were arrested by police and remanded by the Colombo Magistrate’s court, till 13 May, pending further investigations.

Colombo Chief Magistrate Asanga S. Bodharagama, on 5 May, granted to Chandrasena cash bail of Rs. 500,000 and three surety bails of Rs. 10 million each. But soon after Chandrasena received bail, the court was told that two of the Rs. 10 million sureties had been produced, after payment of Rs. 15,000 each, were made to those two individuals to act as guarantors.

The bail application had been submitted by Rienzie Arsecularatne, PC, appearing on behalf of Kapila Chandrasena, when the case was earlier taken up, on 28 April.

Police also arrested an elderly person who arranged for the two persons who hadn’t even seen Chandrasena, even once, to offer themselves as sureties.

As soon as the police revealed the fraudulent manner Chandrasena obtained bail, Chief Magistrate Bodharagama issued an order to arrest and produce him before the court. This order was issued consequent to a request made by the Commission to Investigate Allegations of Bribery or Corruption (CIABOC), on the grounds that the defendant had violated bail conditions. The CIABOC wanted Chandrasena held pending the conclusion of the case.

Sources familiar with the execution of bail bond said that the moment the suspects had submitted their National Identity Cards and letters from Grama Sevakas, the court registry/registrar staff should have rejected them. In a such high-profile case, the failure on the part of the lawyers, representing Chandrasena, to check the gsureties’ relationship with Chandrasena, was another glaring shortcoming, sources said, pointing out that after having submitted bail application on 28 April, the defence team should have come prepared to put forward genuine guarantors.

The Island contacted the Bar Association of Sri Lanka for comment on the manner in which the court staff had handled bail for Chandrasena, but there was no response.

Sri Lanka’s former Ambassador to Moscow, accredited to Kiev, Udayanga Weeratunga, said that a thorough investigation should be conducted to ascertain facts about the execution of the bail bond. Asked whether he had been in touch with Chandrasena, Weeratunga said that he spent his first day at Welikada with Chandrasena and Ranjan Ramanayake in one cell. “That happened on 14 February, 2020. I was arrested when I returned to the country, from the UAE, and produced before the then Magistrate Ranga Dissanayake, the incumbent Director General of CIABOC,” Weeratunga said.

Weeratunga said that a couple of months after the change of government in 2024, the US State Department imposed a travel ban on him and Chandrasena and their families over what the US termed as significant corruption.

Weeratunga said that altogether the US designated 14 persons and, of them, two were Sri Lankan, who happened to be him and Chandrasena, accused of corruption in respect of acquisition of MiG 27s from Ukraine and the Airbus deal, during President Mahinda Rajapaksa’s tenure as the President.

SLPP sources said that Chandrasena’s demise shouldn’t prevent proper investigation on his affidavit that claimed pressure brought on him to name Mahinda Rajapaksa as a recipient of the Airbus bribe.

By Shamindra Ferdinando

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Law applies to all, regardless of power or influence – Prez

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President Anura

President Anura Kumara Dissanayake emphasised yesterday (12) that the law would be enforced equally and no one was allowed to be above the law.

Addressing the Matale District Coordinating Committee meeting, at the Matale District Secretariat, President Dissanayake said, “Do not be afraid to work, but be afraid to engage in irregularities. Everyone must first be subject to the law and secondly, must fear the law. This applies to everyone, from the President down to the Grama Niladhari.”

“If we are to usher in a new era, we must submit to the rule of law. No one can be above it, he said, adding that previous Presidents had even violated the Constitution with impunity.

The President said that if there were any instances of selective law enforcement, they should be brought to his attention for action. Everyone was required to cooperate, if called upon to make statements in an investigation, he said.

By S.K. Samaranayake

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Sri Lanka and Belarus to sign several MoUs

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Minister of Foreign Affairs, Foreign Employment and Tourism, Vijitha Herath, is on an official visit to Belarus, from yesterday to Friday (15), on the invitation of the Foreign Minister of the Republic of Belarus, Maxim Ryzhenkov.

The text of the Foreign Ministry release: “This visit will mark a milestone in the bilateral partnership as the two countries commemorated the 25th Anniversary of the establishment of Diplomatic Relations last year.

During his visit to Minsk, Minister Herath will call on Belarus President Alexander Lukashenko and will hold bilateral discussions with the Minister of Foreign Affairs of Belarus. Minister Herath is also scheduled to meet the Belarus Ministers of Education and Health. Several MoUs and agreements across sectors are envisaged to be signed with the Republic of Belarus during the visit.

In Minsk, Minister Herath will address a business and tourism roundtable, organised by the National Export Centre of Belarus. He is also scheduled to meet Sri Lankan students studying in Belarus.”

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