IANS | 24 Jan, 2018
Sri Lanka and Singapore on
Tuesday signed a Free Trade Agreement (FTA) aimed at boosting trade
and investment between the two countries.
The signing took
place following discussions between visiting Prime Minister of
Singapore Lee Hsien Loong and Sri Lankan President Maithripala
Sirisena, Xinhua news agency reported.
Lee Hsien arrived
in Sri Lanka on a three-day official visit on Monday on an invitation
extended by Sirisena.
"The FTA will boost the trade
between the two countries as this would facilitate duty-free access
to selected goods and services of each other," the Sri Lankan
President's Office said in a statement.
Some of the areas
set to benefit from the FTA included information and communications
technology, real estate, hospitality and tourism, as well as energy
A 35-member business delegation was
accompanying the Singaporean Prime Minister to Colombo.
Hsien was expected to attend a business forum where leading investors
and businessmen from both Sri Lanka and Singapore will take part.