Australia and Sri Lanka finalize Investment Promotion and Protection Agreement
[June 11, 2002 - 11.00 GMT]

An Agreement to promote and protect investment between Sri Lanka and Australia was recently finalised in Canberra. 

The Bilateral Agreement on Promotion and Protection of Investments sets out State-to-State guarantees regarding the promotion and protection of investments, treatment of investments and compensation for losses. 

Since 1981 Sri Lanka has signed over 25 Investment Promotion and Protection Agreements covering major countries of South East Asia, Europe and also with the United States. 

At present there are nearly 50 Australian companies with a substantial investment, operating under the purview of the Board of Investment of Sri Lanka. In addition, over 40 Australian companies are operating independently in Sri Lanka. 

The Bilateral Investment Agreement is expected to be signed at Ministerial level shortly.

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Last Updated Date: June 11, 2002  - 11.00 GMT.