Sri Lanka and Singapore have signed a Memorandum of Understanding (MoU) with a view of 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.

Signing of the MoU was done by CMISL Chairperson and Sri Lanka Singapore Business Council Vice President Indhra Kaushal Rajapaksa  and  Singapore Boating Industry Association ChairpersonY.P. Loke, in the presence of Sri Lankan High Commissioner to Singapore Senarath Dissanayake, One 15 Marina Chairperson Arthur Tay,  International Council of Marine Industry (ICOMIA) President Darren Vaux, and, High Commission of Sri Lanka’s.Minister (Commercial) 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 marks 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 CMISL and SBIA creates a dynamic and healthy environment that propels growth and prosperity for business on both sides.