A Free Trade Agreement between Sri Lanka and Singapore will be signed following bilateral talks between the two nations, today.
Prime Minister of Singapore Lee Hsien Loong arrived in Sri Lanka on the invitation of Sri Lanka’s President Maithripala Sirisena, yesterday.
Last week, Sri Lanka’s Cabinet approved a proposal to sign the proposed FTA between Sri Lanka and Singapore.The FTA consists of provisions regarding trade in goods and services, service liberalization, investments and public procurement.
Experts of the two countries have already agreed to the provisions of the said agreement while steps have also been taken to include appropriate amendments taking into account the observations made by several ministers regarding the draft agreement.
The introduction of this FTA is expected to create a favorable environment for investment while attracting foreign direct investment from Singapore. The Singaporean Premier will be received at the Presidential Secretariat today with an official guard of honour and gun salute that will be followed by official bilateral discussions with President Sirisena.
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