Sri Lanka and Singapore have signed a Memorandum of Understanding (MoU) with a view to working together to promote the boating and yachting industries.

The agreement was forged between the Chamber of Marine Industries of Sri Lanka (CMISL) and the Singapore Boating Industry Association (SBIA) on 22 April, the Ministry of Foreign Affairs said in a statement.

The MoU was signed by CMISL Chairperson and Sri Lanka-Singapore Business Council Vice President Indhra Kaushal Rajapaksa and SBIA Chairperson Y.P. Loke in the presence of Sri Lankan High Commissioner to Singapore Senarath Dissanayake, One15 Marina Chairperson Arthur Tay,  International Council of Marine Industry Associations (ICOMIA) President Darren Vaux, and High Commission of Sri Lanka in Singapore Commercial Minister Yasantha Yaddehi.

The initial negotiations between the two associations were facilitated by the High Commission of Sri Lanka in Singapore. Both parties agreed that the MoU marked the initial step towards mutually-beneficial efforts and cooperation by promoting positive relations and collaboration in the boating sector.

At the signing, the High Commissioner of Sri Lanka in Singapore stated that the collaboration between the CMISL and SBIA created a dynamic and healthy environment that propelled growth and prosperity for business on both sides.

(Source: Ada Derana)