UAE keen to undertake substantial investment in Sri Lanka

Monday, 16 September 2013 00:15 -     - {{hitsCtrl.values.hits}}

The United Arab Emirates (UAE) has expressed keen interest in undertaking a substantial investment in Sri Lanka and will send a business delegation to the Commonwealth Business Forum to be held in November in Colombo, the External Affairs Ministry said. Foreign Affairs Minister of the UAE Sheikh Abdullah bin Zayed Al Nahyan has expressed interest in taking advantage of the conditions of peace and stability in the Island for investments in the country when he met with Sri Lanka’s Minister of External Affairs Professor G.L. Peiris in the Emirates. The two ministers met on the sidelines of the international conference organised by the Government of the UAE on the theme of counter piracy and security of sea lanes. More than 20 ministers representing maritime nations attended the conference. Prof. Peiris and Sheikh Abdullah have discussed modalities for implementing the agreement relating to the Joint Commission between the two countries that is already in place to secure the maximum benefits within a short period. The UAE Minister has said that more than 30 leaders of the business community of the Emirates will participate in the Commonwealth Business Forum to be held on the sidelines of the Commonwealth Heads of Government Meeting (CHOGM) in Colombo in November. The UAE Minister has expressed appreciation for Sri Lanka’s role in protecting the security of sea-lanes in the Indian Ocean, and the significant contribution made by the Sri Lanka Navy in controlling people smuggling activities in the waters. The Foreign Ministers have discussed plans for increased collaboration between the two countries on political and economic issues. Prof. Peiris has provided his counterpart with a detailed update on developments in Sri Lanka, the Ministry said.