Sri Lanka, New Zealand, Singapore deal proposed to boost commonwealth trade
ECONOMYNEXT – Sri Lanka’s Deputy Foreign Minister Harsha de Silva had talks with Singapore officials over a proposed tripartite trade deal with Singapore and New Zealand.
Minister de Silva had briefed Francis Chong, director general at the Ministry of Trade and Industry, about the proposal.
De Silva also discussed the status of an ongoing free trade agreement with Singapore.
The ‘i3 concept put forward by Sri Lanka aims to boost intra-commonwealth trade, a statement said.
De Silva was in Singapore to deliver a speech at the Institute of South Asian Studies of the National University of Singapore on the Indian Ocean.
Sri Lanka was planning to leverage its geo-strategic position to maximise our relationships with both historic and new trading partners, to be the hub for the Indian Ocean and the key transhipment port for Bay of Bengal trade.
Sri Lanka was also backing China’s One Belt One Road plan of strengthening the route of an old maritime silk route.