Sri Lanka and Singapore dedicated to concluding FTA talks by end-2017
Foreign Minister Vivian Balakrishnan said is on a four-day trip to Sri Lanka and at the Sri Lankan Ministry of Foreign Affairs after talks with his counterpart Ravi Karunanayake, said that both Sri Lanka Singapore are committed to closing negotiations on a free trade agreement before the end of the year.
Vivian Balakrishnan said that It will be a modern, high-quality, comprehensive, ambitious free trade agreement and will demonstrate to the world that both of us are open for business .
He described the countries as complementary hubs, with Sri Lanka being a hub for transshipment and economic ties across the Indian Ocean, whereas Singapore is a hub in South-east Asia.
He further mentioned that with the free trade agreement,Singapore can serve as Sri Lanka’s gateway to South-east Asia, however Sri Lanka will be Singapore’s gateway in the Indian Ocean.
