Accompanying the Presidents three-day official visit to the United Arab Emirates (UAE) to participate in the World Governments Summit 2025, Sri Lanka and the UAE reached an agreement on Reciprocal Promotion and Protection of Investments to reinforce financial and financial investment relations in between the 2 countries.The arrangement was signed by UAEs Minister of State for Financial Affairs, Mohamed Bin Hadi Al Hussaini, and Sri Lankas Minister of Foreign Affairs, Vijitha Herath.This bilateral contract establishes a secure legal structure to expand financial investment opportunities in worldwide markets while guaranteeing the defense of foreign financial investments, according to the Presidents Media Division (PMD).
The function of this contract is to help with and strengthen foreign investments in between the two countries by making sure investor rights protection, promoting financial cooperation, and developing extensive investment protection systems, disagreement resolution structures, and policy structures.
This arrangement will also add to strengthening global economic collaborations and producing opportunities for exploring brand-new financial investment potential customers in Sri Lanka, the declaration said.This arrangement highlights the importance of bilateral economic advancement and financial stability while demonstrating the commitment of both the United Arab Emirates and Sri Lanka to strengthening economic cooperation.
It aims to cultivate trade and business expansion in Sri Lanka while promoting a transparent and steady investment environment.Furthermore, this contract also highlights Sri Lankas dedication to boosting Foreign Direct Investment (FDI) and cultivating a more attractive investment landscape.
By enhancing investor confidence, it is anticipated to create new company chances and contribute to financial progress, the PMD added.Ultimately, this agreement will reinforce the long-term collaboration between the UAE and Sri Lanka, facilitating sustainable investments and advancing trade and monetary partnerships in between the two nations, it stated.