SINGAPORE, Singapore and Sri Lanka will likely sign a Free Trade Agreement (FTA) on Tuesday in Colombo during Singaporean Prime Minister Lee Hsien Loong's visit to the island country.

According to the Straits Times on Monday, the Singaporean prime minister will arrive in Colombo on Monday for a three-day official visit.

The media quoted analysts and businesses as saying that they expect a boost in trade between the two economies and greater access for Singapore firms to the growing market.

Song Seng Wun, CIMB Private Bank economist, said with China heavily investing in the South Asian island country, among other things, a port and a financial center, the FTA will help Singapore benefit indirectly from the fruits of China's Belt and Road Initiative there.

Source: NAM News Network