Sri Lanka looks to set up a Joint Economic Council with UAE

Sri Lanka is looking to set up a Joint Economic Council with the United Arab Emirates (UAE), an effort towards promoting trade and investment cooperation between the two countries.
The proposal was put forward by Prime Minister Dinesh Gunawardena this week when UAE Minister of State of Economic and Trade Affairs of the Foreign Ministry Ahmed bin Ali Sayegh called on him at the Temple Trees in Colombo.
The UAE minister agreed that the official negotiations should be commenced soon for finalising the Cooperation of Economic Partnership Agreement for enhancing economic ties, as there is immense potential in the trade, energy, hospitality and tourism spheres as well as for increasing investments in renewable energy projects in Sri Lanka.
Gunawardena pointed out that the UAE has the opportunity to invest in new sectors such as agriculture, as new economic zones have been set up for the growth of food
crops for exports.
Gunawardena also thanked the UAE for the support and assistance provided to Sri Lanka for the development work as well as for providing employment to nearly 300,000 Sri Lankan workers. The UAE minister noted that expatriate Sri Lankan workers are an asset to the economies of both countries.
The UAE delegation included Ambassador Khalid Naser Al-Ameri, Office of the Minister of State Director Sultan Al Mansoori and Economic and Commercial Affairs Department Deputy Director Ghada Al Nabulsi. MP Yadamini Gunawardena, Public Administration Ministry Secretary Ranjith Ashoka and Additional Secretary to Prime Minister Harsha Wijewardene were also present during the meeting.