Sri Lanka and UAE to sign investment protection pact
Daily Mirror - 5 February 2025
Sri Lanka and UAE to sign investment protection pact
Sri Lanka and the United Arab Emirates (UAE) are on track to sign a bilateral Agreement on Reciprocal Promotion and Protection of Investments (ARPPI), aimed at strengthening economic ties and internationalisation efforts for businesses in both countries.
Delegations from both Sri Lanka and the UAE engaged in discussions in Colombo last week to resume talks on the agreement that will likely improve investor confidence in both markets.
The Sri Lankan delegation was led by the Minister of Foreign Affairs, Foreign Employment and Tourism, Deputy Legal Advisor Tilani Silva while the UAE delegation was led by Economic Expert Dr. Hamid Nasr Abdulqadir of the UAE Ministry of Finance.
“Discussions were held in a friendly, cooperative and constructive manner, reaching agreement on the text of the proposed agreement,” the Foreign Ministry stated in a press release.
An ARPPI is a bilateral treaty signed by two countries containing measures and provisions to protect, in international law, the investments by investors of each state party in the territory of another state party.
By facilitating a stable environment conducive to investment, the agreement tries to minimise political and legal uncertainties that sometimes affect the development of investment projects initiated by companies abroad.
