Sri Lanka’s Cabinet of Ministers approve final draft of FTA to be signed with Singapore
Sri Lanka’s Co-Cabinet Spokesperson, Minister Gayantha Karunathileka says the Cabinet of Ministers has granted approval to the final draft of the proposed Free Trade Agreement (FTA) to be signed with Singapore.
The Minister noted that the Development Strategies and International Trade Ministry has received the government’s green light to sign the agreement subject to clearance from the Attorney General.
Development Strategies and International Trade Minister Malik Samarawickrama presented the final draft of the Sri Lanka-Singapore FTA which consists of provisions regarding trade in goods and services, service liberalization, investments, public procurement to the Cabinet of Ministers for approval.
The agreement reportedly includes a separate chapter on Trade Remedies.
The proposed FTA with Singapore will be an advantageous addition to the list of existing trade agreements Sri Lanka has with foreign countries. Given the expanding trade advantages possessed by Sri Lanka, the island nation would be a hot spot for foreign investors.
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