SL, China to sign deal to boost SMEs

Wednesday, 28 May 2025 00:08 - - {{hitsCtrl.values.hits}}

Sri Lanka and China will this week sign a deal to boost Small and Medium-sized Enterprises (SMEs) via greater bilateral cooperation.

The decision by the Cabinet of Ministers at its meeting yesterday was ahead of the visit by China’s Commerce Minister Wang Wentao on Friday.

Cabinet Spokesman and Media Minister Dr. Nalinda Jayatissa said the Cabinet decided to sign a Memorandum of Understanding (MoU) for initiating an active group to promote smooth bilateral trade between Sri Lanka and China.

He said that it has been proposed to initiate an active group to promote smooth bilateral trade between Sri Lanka and China. This is with the objective of uncovering the underutilised probabilities in bilateral trade, confronting challenges related to trade, as well as increasing the trade volume between Sri Lanka and China and enhancing its quality.

As per a proposal by Trade, Commerce, Food Security and Cooperative Development Minister Wasantha Samarasinghe, the Cabinet of Ministers approved the signing of the MoU between the Trade Ministry of the People’s Republic of China and the Trade, Commerce, Food Security and Cooperative Development Ministry of Sri Lanka to establish the active group.

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