COLOMBO, Sri Lanka — Singapore and Sri Lanka signed a free trade agreement for the two countries on Tuesday during a three-day visit by Singapore Prime Minister Lee Hsien Loong to the Indian ocean island nation.
Lee met with Sri Lankan president Maithripala Sirisena and the two discussed strengthening bilateral relations and exchanged views on key regional and international developments, according to a statement issued by the two countries.
They also witnessed the signing of the trade agreement which the statement said will “will further deepen the bilateral economic ties.”
Further trade agreement details were not immediately disclosed but the statement said the deal was comprehensive “with mutually beneficial outcomes and meaningful commitments for both Sri Lanka and Singapore.”
Lee also held discussions with Sri Lankan prime minister Ranil Wickremesinghe, who tweeted that the trade agreement will increase exports of goods from Sri Lanka and create new job opportunities.
Lee arrived in Sri Lanka in Monday and will conclude his visit Wednesday.