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The Sri Lankan Government is taking steps to initiate a tripartite trade and economic pact between Sri Lanka, India and Singapore shortly, Prime Minister Ranil Wickremasinghe, who is on an official visit to Singapore, told a group of investors and business persons in Singapore Friday. Prime Minister Wickremasinghe was addressing a seminar organised by the Singapore Trade Chamber in collaboration with the Board of Investment of Sri Lanka at the Marin Mandarin Hotel. The Prime Minister said that Sri Lanka needed to develop close relations with India and Singapore to spur development and strengthen the economy. "Singapore has achieved a very high level of development with only three million people. With nearly 19 million people, it should not be impossible for Lanka to achieve rapid development," he said. During the discussions, the Singaporean Prime Minister Goh Chok Tong pledged maximum support for the economic development of Sri Lanka if the ethnic conflict ended and peace was achieved. Prime Minister Wickremasinghe said that the Government had decided to observe a permanent ceasefire, which will aid the commencement of peace talks.
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