POST CRISIS, SRI LANKA LOOKS TO THE UAE FOR A RAPID TRADE DEAL

THE COUNTRY’S CONSUL GENERAL SAYS CEPA WITH THE UAE COULD BE FINALISED WITHIN A YEAR

- BY NIVETHA DAYANAND

The UAE and Sri Lanka could finalise a Comprehensive Economic Partnership Agreement within a year once formal negotiations begin, opening the door for deeper trade, investment and services flows between the two countries, according to Alexi Gunasekera, Consul General of Sri Lanka to Dubai and the Northern Emirates.

Speaking to Gulf News at the Globalisation and the Sri Lankan Opportunity event at Ritz-Carlton DIFC on Thursday, Gunasekera said Sri Lanka had already expressed interest in moving ahead with CEPA discussions after talks earlier this year between Sri Lanka’s trade ministry and UAE Minister of State for Foreign Trade Dr Thani Al Zeyoudi.

“Once it [is] started, I’m quite sure within a year we will be able to finalise everything.”

The proposed agreement would follow the investment protection and promotion agreement signed last year, which Sri Lanka sees as a foundation for attracting more UAE capital into sectors such as infrastructure, agriculture, logistics, ports, technology and professional services.