The Government of Sri Lanka today signed a Free Trade Agreement (FTA) with Singapore at the Presidential Secretariat in Colombo.
The Free Trade Agreement will boost the trade between the two countries as this would facilitate duty free access to selected goods and services of each other, the President’s Media Division said.
The signing of the Free Trade Agreement took place following the bilateral discussions between visiting Prime Minister of Singapore Lee Hsien Loong and President Maithripala Sirisena at the Presidential Secretariat.
The Singapore Prime Minister arrived in Sri Lanka yesterday on an invitation extended by the President.
“The free trade agreement signed between our nations will mark a new era in our bilateral relations and a giant step forward in our economy,” President Sirisena said in a tweet after the ceremony.
The Minister for Development Strategies and International Trade Malik Samarawickrama and S. Iswaran Minister for Trade and Industry of the Republic of Singapore signed the Free Trade Agreement on behalf of the respective Governments, in the presence f President Sirisena, Prime Minister Lee Hsien Loong and Prime Minister Ranil Wickremesinghe.
