Brexit evening forum was held on 11th August 2016 at Galadari to a distinguished gathering.
A synopsis of the event by Upali Ratnayaka..
The first in the series of e vening lectures organised by the Association was held on the 11th of August at Galadari. There were 50 participants
PG, Head of EU's Economic section in SL explained the background to Britain leaving the EU and its consequences.He said while Greenland's departure in 1983 did not have a big impact, Britain's decision will have far reaching economic after-effects.Right now the sterling has taken a blow but this could right itself before next summer. He said that Prime Minister May may acitvate Article 50 of the Lisbon Treaty in February 2017 which deals with the logistics of departure.Britain will then have to enter into independent trade and other agreement with EU countries.Such changes will have their effects in SL to because SL treats GB as a leading trading partner.
Dr K, of IPS showed that EU is SL;s largest export destination.Post BrexitSL will not be able to enter the UK marketon a tarrif-free basisThis may result in the loss of competitiveness.A substantial depreciation of the GBP will adversely affect exports and invstment.While the overall impact is negative but one cannot predict the developments that could take place which could be of benefit to SL.
President Sarma chaired the meeting while Thisitha de Silva VP proposed the vote of Thanks.