Romania to sign agreement with Lanka to avoid double taxation to boost bilateral trade

Romanian Ambassador Doamna Arhire has informed Prime Minister Dinesh Gunawardena that Romania would sign an agreement with Sri Lanka to avoid double taxation to boost the bilateral trade between the two countries.

Ambassador Arhire called on Prime Minister Gunawardena at Temple Trees on Monday (26).

PM Gunawardena and the Romanian envoy discussed the long-standing bilateral relations between the two countries and the steps to be taken to enter into economic cooperation and investment in new spheres.

The Prime Minister urged Romania to consider investments and cooperation in education, agriculture, railways, IT, cyber security and tourism sectors.

Ambassador Arhire, expressing delight over the fourfold growth of bilateral trade to USD 127 million last year added that her country would sign an agreement with Sri Lanka to avoid double taxation so that trade process could be smoothened. She added that another Memorandum of Understanding (MoU) on cooperation in education, culture, sports and media could be signed once the draft is approved by both sides.

The Romanian envoy said 40,000 Lankans were employed in Romania and their contribution to the economy was highly appreciated and they also contribute to Sri Lanka with their remittances. The Prime Minister thanked the government of Romania for providing employment to a large number of Sri Lankans in recent years.

The Premier said that he was thankful for Romania’s support to Sri Lanka in the past and made a special mention about the Romanian oil supplies when there was a Western blockade due to nationalization of foreign oil companies here in the early 1960s and the supply of railway compartments and rails to Sri Lanka.

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Source:: The Island