The European Union (EU) has agreed to support a project aimed at promoting sustainable trade between Sri Lanka and the European Union.
The project is expected to strengthen sustainable trade relations between the two parties by promoting green transition initiatives and climate-resilient trade practices.
It also aims to enhance the institutional capacity of trade-related organisations and support Sri Lanka's efforts to comply with international standards required to gain access to the European Union market.
The Ministry of Trade, Commerce, Food Security and Cooperative Development has planned to implement the proposed project over a period of four years.
Accordingly, the Cabinet of Ministers has approved a proposal submitted by the President, in his capacity as Minister of Finance, Planning and Economic Development, to sign a financial grant agreement between the European Union and the Government of Sri Lanka.
The agreement will enable Sri Lanka to receive a grant of €10 million to implement the project.
