Sri Lanka would be entering into a Joint Committee established with the Seychelles government following the recent signing of a Memorandum of Understanding (MOU) in a bid to commence trade ties between the two countries. Sri Lanka is looking at establishing trade ties with a view to entering the South African continent, officials at the [...]

The Sundaytimes Sri Lanka

SL- Seychelles to enter trade pact, access to African continent

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Sri Lanka would be entering into a Joint Committee established with the Seychelles government following the recent signing of a Memorandum of Understanding (MOU) in a bid to commence trade ties between the two countries. Sri Lanka is looking at establishing trade ties with a view to entering the South African continent, officials at the Board of Investment (BOI) said.

The MOU, though not detailed at a recent media briefing, was said to open the gateway into the South African continent for Sri Lanka to gain access to increased investments through the trade agreement with Seychelles.

The two boards of investments signed the MOU in Colombo aimed at promoting manpower training and create opportunities for the youth and increase ties on the tourism sector as well.

The Seychelles Finance, Trade and Investment Minister Pierre Laporte and his delegation from that state’s investment board and its private sector were present at the signing ceremony held at the BOI office.

Sri Lanka’s Mihin Airlines, Nawaloka Medical Centre and the Bank of Ceylon have already established themselves in Seychelles; it was pointed out during the Investment Promotion Minister Lakshman Yapa Abeywardena’s speech at the briefing.He noted that the next stage would be the establishment of a Joint Committee that would build on co-operation between the two countries.Minister Laporte identified this MOU as an “important milestone” in their friendly ties between the two states.

Under the MOU, investors from both countries would be provided field trips by the respective states to encourage increased opportunities to invest and build on relations.

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