For the purpose of fostering trade and investment cooperation between the two nations, Sri Lanka has suggested establishing a Joint Economic Council with the United Arab Emirates (UAE).
The UAE Minister of State for Economic & Trade Affairs of the Foreign Ministry, Ahmed bin Ali Sayegh, met with Prime Minister Dinesh Gunawardena at the Temple Trees in Colombo on Wednesday (Oct. 11), and this request was made, according to the Prime Minister’s Office.
The UAE Minister concurred that formal negotiations for the Cooperation of Economic Partnership Agreement should start soon in order to strengthen economic ties and take advantage of Sri Lanka’s enormous potential for trade, energy, hospitality, and tourism as well as for boosting investments in renewable energy projects.
The UAE now has the opportunity to engage in new industries, such as agriculture, according to the prime minister, since new economic zones have been established for the development of food crops for export.
The UAE Minister responded by saying that the roughly 300,000 Sri Lankan employees living abroad are a benefit to the economies of both nations. He went on to express his gratitude for the UAE’s support and assistance given to Sri Lanka for its development efforts as well as for giving them jobs.
Among the members of the UAE delegation were Ambassador Khalid Naser Al-Ameri, Sultan Al Mansoori, Director of the Office of the Minister of State, and Ghada Al Nabulsi, Deputy Director of the Department of Economic and Commercial Affairs.
Additionally present at the meeting were MP Yadamini Gunawardena, Ranjith Ashoka, Secretary of the Ministry of Public Administration, and Harsha Wijewardene, Additional Secretary to the Prime Minister.
