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Sri Lanka president visits Iran for oil trade deals

AFP  |  Colombo 

Sri Lanka's left on a two-day visit to today to improve trade relations and secure investment from the Islamic republic, his office said.

will hold talks with his Iranian counterpart on strengthening cooperation in the and will also seek Iranian investment, according to an official statement.

The two leaders will sign a memorandum of understanding on "further strengthening the economic and trade ties between the two countries".

The visit comes as world leaders scramble to salvage a key nuclear deal with after withdrew the from the accord.

Sri Lanka, an oil importer, turned to and for crude during the height of international sanctions against

Before the sanctions regime, Iran had been a key buyer of Sri Lankan tea, the island's main export. Sri Lanka's only is geared to handle Iranian light crude.

Iran pledged USD 450 million for an irrigation project in in 2008, but the funds were delayed due to the sanctions.

Sirisena's office said he will also attend a special investment and trade forum organised by the

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Sat, May 12 2018. 18:30 IST
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