Singapore is considering the creation of a Sri Lanka-Singapore Free Trade Agreement (SLSFTA) announced Singapore’s Ministry of Trade and Industry (MTI) reports Channel News Asia.
Speaking during a 3 day visit to Sri Lanka last week, Singapore’s Trade and Industry Minister S Iswaran, suggested that a decision would be made soon, adding,
“The potential for a good quality bilateral free trade agreement between Sri Lanka and Singapore is there. Our officials have done studies and they feel both sides stand to benefit significantly. And it will smoothen the way for our business communities to work together. The SLSFTA will enhance economic flows by lowering barriers to entry and providing greater market access for both Singapore and Sri Lanka companies.”
During Mr Iswaran’s visit the government of Sri Lanka signed a Memorandum of understanding (MOU) with Singopore’s main infrastructure consultancy, The MOU will see the Singaporean company Surbana Jurong formulate a long-term development plan for the Trincomalee region and surrounding towns.
Speaking during a 3 day visit to Sri Lanka last week, Singapore’s Trade and Industry Minister S Iswaran, suggested that a decision would be made soon, adding,
“The potential for a good quality bilateral free trade agreement between Sri Lanka and Singapore is there. Our officials have done studies and they feel both sides stand to benefit significantly. And it will smoothen the way for our business communities to work together. The SLSFTA will enhance economic flows by lowering barriers to entry and providing greater market access for both Singapore and Sri Lanka companies.”
During Mr Iswaran’s visit the government of Sri Lanka signed a Memorandum of understanding (MOU) with Singopore’s main infrastructure consultancy, The MOU will see the Singaporean company Surbana Jurong formulate a long-term development plan for the Trincomalee region and surrounding towns.
