Singapore launches talks for free trade deal with Sri Lanka
Singapore and Sri Lanka have started talks for a free trade pact, including measures to free up trade in goods and services as well as investments, the city-state’s trade minister said on Monday.
Sri Lanka’s push to build infrastructure and develop its industries presented prospects for Singapore firms to partner with companies in the Indian Ocean nation and contribute to its growth, S. Iswaran said in a statement.
“Amidst an uncertain economic environment, Sri Lanka offers good potential for Singapore companies looking to tap opportunities in new markets,” he said.
The Indian Ocean island was Singapore’s 39th largest trading partner last year, with two-way trade of S$2.05 billion ($1.52 billion), Singapore’s Ministry of Trade and Industry said.
(Reuters)
Latest Headlines
- Sri Lankan Rupee appreciates against U.S. Dollar June 1, 2023
- Professionals belonging to 14 categories required to register with Inland Revenue Department from June 01 June 1, 2023
- Bruno Divakara remanded until June 07 June 1, 2023
- Over 9,000 dengue cases reported in Sri Lanka in May, 2023 June 1, 2023
- Sri Lanka unexpectedly cuts rates by 250 bps as inflation eases June 1, 2023
- Sri Lanka’s key inflation rate eases to 25.2% in May June 1, 2023
- Fuel prices revised in Sri Lanka May 31, 2023