Prime Minister moots establishing joint economic council with UAE

Friday, 13 October 2023 02:14 - - {{hitsCtrl.values.hits}}

Prime Minister Dinesh Gunawardena has proposed the setting up of a Joint Economic Council with the United Arab Emirates (UAE) to promote trade and investment cooperation between the two countries.

The suggestion was made when the UAE Minister of State, Ahmed bin Ali Al Sayegh called on the Prime Minister at Temple Trees on Wednesday.

The UAE Minister agreed that official negotiations should be commenced soon to finalise the Cooperation of Economic Partnership Agreement for enhancing economic ties as there is immense potential in the trade, energy and tourism sectors as well as increase investments in renewable energy projects in Sri Lanka.

The Prime Minister said the UAE has opportunities now to invest in new sectors such as agriculture as new economic zones have been set up for the growth of food crops for export.

He thanked the UAE for the support and assistance provided to Sri Lanka for development work as well as for employing nearly 300,000 Sri Lankan workers.

The UAE Minister said the expatriate Sri Lankan workers are an asset for the economies of both countries.

The UAE delegation included Ambassador Khalid Naser Al-Ameri, the Office of the Minister of State Director, Sultan Al Mansoori, and the Department of Economic and Commercial Affairs Deputy Director, Ghada Al Nabulsi.

MP Yadamini Gunawardena, Public Administration Ministry Secretary Ranjith Ashoka and Additional Secretary to the Prime Minister Harsha Wijewardene were present at the meeting.