Published: 09:47, October 9, 2024
Sri Lanka cabinet approves agreement to facilitate trade with Russia
By Xinhua
Commanders of the security forces stand behind as Sri Lanka's new president Anura Kumara Dissanayake, addresses a gathering after he was sworn in at the Sri Lankan President's Office in Colombo, Sri Lanka, Sept 23, 2024. (PHOTO / AP)

COLOMBO - Sri Lankan cabinet approved an agreement to facilitate legally valid trade activities with Russia through transparent, predictable customs procedures, a statement from the government's information department on Tuesday.

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According to the department, although the cabinet approval was granted on Nov 15, 2021 to sign a bilateral agreement to provide facilities for legally valid trade activities through transparent and predictable customs procedures after a series of bilateral discussions between the Sri Lankan government and Russian government, it has not been signed.

However, the cabinet approved the proposal presented by President Anura Kumara Dissanayake who is also minister of finance, economic development, policy formulation, planning, and tourism to sign for it.