Sri Lanka and Cambodia further strengthen bilateral and trade ties
Sri Lanka and Cambodia have explored ways of further strengthening bilateral and trade ties during the official visit of Sri Lankan President Maithripala Sirisena to Cambodia that concluded on Saturday (10).
President Sirisena has held a meeting with Cambodian Prime Minister Samdech Akka Moha Sena Pakdei Techo HUN SEN and discussed the signing of an agreement on civil aviation.
Accordingly, Sri Lanka is exploring the possibility of establishing direct flights to Cambodia and to enhance tourism and trade between the two countries.
The two leaders have also discussed ways to enhance cooperation in the economic and trade sectors and the implementation of the educational and youth exchange programme.
Despite longstanding bilateral relations, the embassies of the two countries have not been established, the local media has reported.
It was also discussed that action should be taken to expedite the process and on inter-market opportunities and market advantages in between two countries, reports have further stated.
Pointing to the need for a legal basis for investment protection, President Sirisena has reportedly stated that his foreign policy is that no country should be affected by the actions of another country.
The discussion had focused on the importance of strengthening ties between Cambodia and Sri Lanka. Cambodian Premier had noted that distance between the two countries is a disadvantage for both countries.
President Sirisena had stated that he would instruct Sri Lanka’s Ministry of External Affairs to take immediate steps to look into further improving diplomatic relations with Cambodia and establishing a foreign mission.
Following the meeting between the two leaders, two new Memoranda of Understanding (MoUs) were signed between Sri Lanka and Cambodia.
The Chambers of Commerce of Sri Lanka and Cambodia have signed an agreement to establish a National Council of Cambodia and Sri Lanka.
OSL take:
The further strengthening of bilateral and trade ties between Sri Lanka and Cambodia and the setting up of a National Council of Cambodia and Sri Lanka would result in Sri Lanka becoming one of the South Asian countries with strong ties in the region. Sri Lanka’s geographical positioning in the Indian Ocean and the many trade agreements as well as trade concessions enjoyed by the country has made the island the ideal business destination in the South Asian region. Therefore foreign businesses/investors looking at doing business in the South and South East Asian region could explore the possibility of setting up base in Sri Lanka.
| Article Code : | VBS/AT/12082019/Z_3 |