The Cabinet has approved the extension of the Sri Lanka and Australia Trade and Investment Framework Agreement. Australia is an important foreign direct investment partner in Sri Lanka and the fifth largest source of tourist arrivals, according to the government.
The Trade and Investment Framework Agreement between Australia was signed in 2017 with the vision of promoting bilateral trade and investment relations between the two countries.
The cabinet has approved the proposal presented by the Minister of Trade, Commerce and Food Security to extend the said agreement for the next five years from 10-10-2023 in order to continue the trade and investment cooperation as stated in the said trade agreement. (Lankadeepa)