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SL-Maldives push for stronger economic ties at Colombo business forum ...
Prime Minister Dr. Harini AmarasuriyaAddressing the gathering visiting Maldives President Mohamed Muizzu said the country is at “a pivotal moment in its development journey”, describing the country as “a nation on the rise” building on resilience while looking towards “a future of development and prosperity”. Highlighting the close ties between the two countries, President Muizzu said Sri Lanka and the Maldives share deep historical, cultural and economic links, adding that their partnership is rooted in trust, mutual respect and continuous engagement. He underscored that development in the Maldives is “people-centred, technology-enabled and environmentally responsible”, while placing strong emphasis on the role of the private sector in shaping the country’s economic future. “We have placed private sector-led growth at the very heart of our national agenda,” he said, noting that his administration is implementing “an ambitious reform programme to facilitate business, incentivise investment and empower entrepreneurs”. President Muizzu also pointed to key reforms, including a modernised foreign investment law and revised investor entry requirements aimed at ensuring “clarity, predictability and transparency”, expressing confidence that these measures would strengthen investor confidence and support long-term growth. Meanwhile, Prime Minister Dr. Harini Amarasuriya echoed the importance of strengthening bilateral ties, noting that Sri Lanka too “stands at a pivotal moment in its economic journey”. She said the country has navigated recent global and domestic challenges, including economic pressures and severe weather impacts in late 2025, through fiscal discipline, structural reforms, strengthened governance and strong international support. “We are steadily building a stronger and more stable economic foundation, with a clear and promising path ahead,” she said. The Prime Minister placed particular emphasis on the enduring friendship between the two nations, recalling the Maldives’ support to Sri Lanka in the aftermath of Cyclone Ditwah. She expressed gratitude for the assistance extended by the Maldivian government, businesses and people, noting that such support reflected “the depth of friendship that goes beyond traditional cooperation”. Highlighting economic opportunities, she said tourism remains a key sector for collaboration, noting Sri Lanka’s record tourist arrivals in 2025 despite adverse conditions and pointing to growing prospects in sustainable ...
Upgraded China-ASEAN pact injecting impetus into global trade
Workers cast off the ropes for a ship bound for ASEAN countries at a container dock of Qingdao Port in Qingdao, East China's Shandong province, April 30, 2025. [Photo/Xinhua] KUALA LUMPUR — In a significant stride toward regional economic integration, China and members of the Association of Southeast Asian Nations have completed negotiations on an upgraded free trade agreement, doubling down on efforts to promote inclusive and sustainable growth. The Version 3.0 China-ASEAN Free Trade Area (CAFTA) comes at a critical moment and sends a clear and strong signal in support of free trade and open cooperation amid growing protectionism and trade fragmentation, analysts told Xinhua on the sidelines of the 2025 ASEAN Summit and related meetings. The deal, a pivotal enabler for ASEAN and China's sustained growth and competitiveness, marks a shift "from traditional goods to the future economy", said Tan Kar Hing, deputy chairman of Malaysia's Center of Regional Strategic Studies. Beyond tariff cuts and smoother trade, the upgraded agreement incorporates nine new chapters covering such strategic areas as digital economy, green economy, supply chain resilience, small and medium-sized enterprise support and Customs cooperation, reflecting "broader coverage and greater specificity", the Malaysian expert said. As major developing economies, China and ASEAN have been each other's largest trading partners for years. Data from China's General Administration of Customs showed that in the first four months, two-way trade reached 2.38 trillion yuan ($330.86 billion), up 9.2 percent from a year earlier. Their highly complementary economies form a cornerstone of regional cooperation. For export-driven economies like Malaysia, the upgrade eases access to ASEAN and Chinese markets, particularly for small businesses. "Local SMEs can now connect directly with regional markets through digital platforms — true 'local creation, regional expansion'," Tan said. The pact also streamlines agricultural exports and builds traceable supply chains — key for Malaysia's food and commodity sectors. The evolution from Version 1.0's basic tariff reductions to Version 3.0's rule alignment signals a "deepening commitment to a high-level free trade agreement that is inclusive, modern, comprehensive and mutually beneficial", said Tang Zhimin, director of China ASEAN Studies at the Bangkok-based Panyapiwat Institute of Management. "By aligning rules, recognizing standards and enhancing mechanisms, the...
China makes headway in trade facilitation, customs cooperation in 14th ...
Trade facilitation is crucial in advancing high-standard opening-up, improving the business environment, and safeguarding the multilateral trading system, Sun Meijun, head of the General Administration of Customs (GAC), told a press conference.
Vietnam shares economic lessons with Sri Lanka | Daily FT
Lâm said the upgraded Comprehensive Partnership framework would also deepen cooperation in defence, security, education, science and technology, tourism, digital transformation and parliamentary engagement, while creating new mechanisms for trade and investment facilitation between the two countries.
