Archives

Lanka keen on FTA with Singapore

Sri Lanka is keen on having a Free Trade Agreement with Singapore to boost bilateral trade, said Commerce and Consumer Affairs Minister Ravi Karunanayake. The minister made these remarks when he met Singaporean Minister of State for Defence Cedric Foo at the ministry on Monday.

Foo invited Sri Lanka to become a dialogue partner of Asean. He said Sri Lanka was an important trading partner of Singapore for a long time.

Karunanayake highlighted the importance of Singaporean investment in Sri Lanka and said these ventures would add value to bilateral trade.

He said the Sri Lankan government wishes to expand trade between the two countries despite the trade deficit where Sri Lanka exports to Singapore is Rs. 4 billion per year, against imports from Singapore, which is Rs. 36 billion. Foo said a major part of the Singaporean economy is still dominated by the manufacturing industry even though the country has been considered as a service hub of South East Asia.

News | Business | Features | Editorial | Security
Politics | World | Letters | Sports | Obituaries |

Produced by Lake House
Copyright 2001 The Associated Newspapers of Ceylon Ltd.
Comments and suggestions to :Web Manager