Govt will make Lanka a business hub: PM

The national unity government in Sri Lanka is committed to make the country a hub for business through a strong, sustainable and flexible economy, Prime Minister Ranil Wickremesinghe has said.He said international investors can take advantage of the geographical position of Sri Lanka as the economic and financial centre in the Indian Ocean which can provide goods and services for the needs of 3bn people from China to Spain.Wickremesinghe was addressing the Invest Sri Lanka Forum in Singapore.Singapore Minister for Trade and Industry S Iswaran said the Sri Lanka-Singapore free trade agreement is beneficial for both countries.“The Sri Lanka-Singapore free trade agreement is significant for both countries. As Sri Lanka’s first comprehensive bilateral free trade agreement, it is a clear demonstration of the Sri Lankan government’s commitment to reintegrate into the global economy and bring more economic opportunities for its businesses and the people of Sri Lanka. For Singapore, this agreement marks another step-forward in our commitment to free and open markets, and to deepening our bilateral ties with Sri Lanka, and through Sri Lanka into the South Asian region,” he said.He said the signing and (soon to follow) ratification of the Sri Lanka-Singapore free trade agreement will further catalyse Singapore companies’ investments and economic engagement in Sri Lanka. “The new investments are taking place in a diversity of sectors and they represent new opportunities, for the business community in Sri Lanka to work with their Singaporean counterparts, and also new job opportunities for Sri Lankans as Singapore companies seek a sustainable pool of talent to grow in-market and beyond,” he said.Iswaran said that Sri Lanka companies can also tap on the Sri Lanka-Singapore free trade agreement to begin their internationalisation journey in Singapore.