Sri Lanka, UAE ink investment protection agreement to boost economic ties

Friday, 14 February 2025 00:10 - - {{hitsCtrl.values.hits}}

Sri Lanka and the United Arab Emirates (UAE) have signed a landmark agreement on the Reciprocal Promotion and Protection of Investments, reinforcing their commitment to deepening economic and investment cooperation.

The deal was formalised during President Anura Kumara Dissanayake’s three-day visit to the UAE for the World Governments Summit 2025, underscoring the strategic importance of bilateral relations between the two nations.

The agreement was signed by UAE’s Minister of State for Financial Affairs Mohamed Bin Hadi Al Hussaini, and Foreign Affairs Minister Bijitha Herath.

The agreement establishes a secure legal framework aimed at expanding investment opportunities while safeguarding foreign investments.

Key provisions include comprehensive investment protection mechanisms, dispute resolution frameworks, and policy structures designed to foster a more stable and transparent investment climate.

At its core, the agreement seeks to enhance investor confidence by ensuring the protection of rights and promoting economic cooperation between Sri Lanka and the UAE. With foreign direct investment (FDI) playing a crucial role in Sri Lanka’s economic recovery and growth, the pact is expected to create new business opportunities, strengthen trade relations, and attract long-term investments.

It also aligns with Sri Lanka’s broader strategy to improve its investment landscape, positioning the country as a more competitive destination for global investors.

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