A memorandum of understanding (MOU) to promote investment relations was signed between Singapore and Sri Lanka’s business federations today.
The total trade beween Singapore and Sri Lanka amounted to S$1.85 billion last year and it is an increase of 53.5 per cent compared to the year 2009.
Among other targets, the MOU between the Singapore Business Federation and Sri Lanka’s Board of Investment aims to promote joint venture collaborations between the two countries.
The Federation expects to send a business delegation to in the second quarter this year to explore investment opportunities in urban planning, infrastructure, education, and health care services, sources said.
The collaboration comes as President Mahinda Rajapaksa makes his first state visit to Singapore. President Rajapaksa called on President Tony Tan Keng Yam at the Istana.