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ECONOMY | Staff Reporter, Singapore

Singapore and Sri Lanka to ink free trade agreement

Singaporean delegates will depart to Sri Lanka until 26 January.

Singapore and Sri Lanka will sign a free trade agreement (FTA) during the former's fourth business mission to the country.

According to the Singapore Business Federation’s (SBF), its South Asia Business Group departed today to Sri Lanka until 26 January 2018.

A press release said that a 32-strong delegation, comprised of 24 companies and organisations and 60% small to medium enterprises (SMEs), will go to the country.

The companies largely hail from the sectors of info-communications technology, hospitality, real estate development, construction and infrastructure-related services, shipping and logistics, and general trade.

The business mission includes a business forum that will witness inking of Memorandums of Understanding (MoU) between Sri Lankan and Singapore companies, as well as presentations and panels on opportunities and doing business in Sri Lanka, and the benefits and implementation of the FTA.

The delegates will also have the opportunity to interact with Prime Minister Lee Hsien Loong of Singapore and Prime Minister Ranil Wickremesinghe of Sri Lanka, as well as high-level government officials from both countries.

Meetings with government ministries and agencies such as the Board of Investment of Sri Lanka and Ministry of Megapolis and Western Development will be organised.

Delegates will also call on key representatives of Sri Lankan conglomerates such as John Keells and Aitken Spence, as with leading Sri Lankan companies within the industries aligned to the delegation’s interests. 

Photo by Carlos Delgado - Own work, CC BY-SA 4.0

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