COLOMBO: The Sultanate and Sri Lanka signed a double taxation avoidance agreement in Colombo on Friday.
The agreement was signed by Dr Mohammed bin Awadh al Hassan, acting Under-Secretary of the Foreign Ministry for Diplomatic Affairs, and Sri Lankan Foreign Secretary Prasad Kariyawasam, during the second meeting of the Oman-Sri Lanka bilateral consultations.
Sri Lankan Foreign Minister Tilak Marapana, welcoming the signing of the agreement, said it would provide an important framework for investors from both countries.
During the meeting, Oman and Sri Lanka reaffirmed the commitment to further consolidate and advance bilateral and economic cooperation.
The discussions focused on the follow-up action on the decisions made at the First Meeting of the Oman-Sri Lanka bilateral consultations held in Muscat in 2014, and new avenues for bilateral cooperation.
The two sides also agreed to conclude an agreement on promotion and reciprocal protection of investments at the earliest, and to consider entering into a MoU on skills development and mutual recognition of qualifications to facilitate mobility of skilled workers from Sri Lanka to Oman.
The two sides stressed the importance of continuing to work together at regional and multilateral fora for advancing shared interests. — ONA/Agencies