Fact checking #FakeNews about the Singapore-Sri Lanka FTA

Fact checking #FakeNews about the Singapore-Sri Lanka FTA

Secondly, we are now in an economic system that is dependent on global supply chains. This means that a single product is not made in one country, but in several different countries, and imports are very closely linked to how much is exported. Our complex tariffs and para-tariffs has resulted in the cost of production in SL to increase and global manufacturing firms to invest elsewhere. Reducing tariffs on Singaporean intermediate goods means that the cost of production in Sri Lanka will reduce. Thus, our export sector will become more competitive and any loss in tariff revenue, can be reduced significantly, if not completely overwritten in the future, by an increase in export revenue.

Full article: https://thenerdageblog.wordpress.com/2018/05/17/fact-chec...

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