Sri Lanka is seeking to accelerate the finalization of a Comprehensive Economic Partnership Agreement (CEPA) with the United Arab Emirates in a bid to enhance bilateral trade and investment prospects, Foreign Minister Vijitha Herath said during a recent visit to Dubai. The minister held talks with UAE Minister of Foreign Trade Dr. Thani bin Ahmed Al Zeyoudi as part of efforts to deepen economic ties between the two countries.
Minister Herath attended the second edition of “Sri Lanka beyond Your Dreams,” an event organized by the Sri Lankan Consulate General in Dubai aimed at promoting investment and business opportunities. The two-day visit included meetings with senior UAE officials, including Minister of Human Resources and Emiratisation Dr. Abdulraham Abdulmannan Al Awar and Minister of Economy and Tourism Abdulla bin Toaq Al Marri.
Accompanied by Board of Investment chairman Duminda Hulangamuwa and representatives from the Port City Commission, Minister Herath engaged with key figures from both Sri Lankan and UAE private sectors to explore avenues for expanded cooperation. Discussions focused on identifying new opportunities for trade, investment, and business partnerships.
A significant part of the dialogue targeted potential investments in Sri Lanka’s Port City Colombo, a major urban development project. During the visit, Minister Herath met with Amit Jain, Group CEO of UAE-based EMAAR Group, and Ahmad Matrooshi, EMAAR’s Executive Director, to discuss the real estate sector. He extended an invitation to EMAAR to consider participating in the Port City development initiative.
The Sri Lankan government views the expedited completion of the CEPA as a strategic priority in strengthening its economic engagement with the UAE—a key regional trading partner. The agreement is expected to provide a framework for reduced trade barriers, increased market access, and enhanced cooperation in various sectors, supporting Sri Lanka’s broader goals of attracting foreign investment and stimulating economic growth.