Sri Lanka and the UAE to finalise investment agreement
The Morning: An agreement on Reciprocal Promotion and Protection of Investments between Sri Lanka and the United Arab Emirates (UAE) is to be finalised in the near future.
The delegations of Sri Lanka and the UAE met in Colombo from 27-29 January to resume discussions to finalise the proposed Agreement on Reciprocal Promotion and Protection of Investments between Sri Lanka and the UAE.
Discussions were held in a friendly, cooperative and constructive manner, reaching agreement on the text of the proposed agreement.
Delegations of Sri Lanka and the UAE were led respectively by Foreign Affairs, Foreign Employment and Tourism Ministry Deputy Legal Advisor Tilani Silva and UAE Finance Ministry Economic Expert Dr. Hamid Nasr Abdulqadir.
OSL take:
Sri Lanka is engaged in an aggressive campaign to promote the country as an emerging business/investment destination in the South Asian region. The country’s geographical positioning in the Indian Ocean, the many trade agreements as well as trade concessions enjoyed with other countries and the path to becoming a hub in the South Asian region have all helped boost Sri Lanka as a destination that provided many lucrative opportunities for foreign businesses/investors. The ongoing economic expansion that has resulted in the overall growth in Sri Lanka’s key economic sectors has created many business/investment opportunities in the country. The further strengthening and expanding of trade ties between Sri Lanka and new foreign countries have given a further impetus to Sri Lanka’s path to attract more foreign investments to the country. It is in such a backdrop that Sri Lanka and the UAE have finalized an investment agreement. Sri Lanka has also been placed prominently in China’s Belt and Road Initiative (BRI). All these developments indicate the increasing business potential in Sri Lanka and the lucrative business/investment opportunities that are open for foreign businesses/investors. Sri Lanka also presents the ideal venue for foreign businesses/investors to set up bases in the region to engage with other Asian, especially South Asian, countries using the strong trade ties enjoyed by Sri Lanka and the preferential treatment enjoyed by Sri Lanka with these foreign countries.
| Article Code : | VBS/AT/20250206/Z_1 |