Sri Lanka has requested the United Arab Emirates for concessionary arrangements to buy oil, the foreign ministry said, as the island nation faces a foreign exchange shortage and its state-owned oil retailer Ceylon Petroleum Corporation (CPC) struggles to pay past dollar debts.
Foreign Minister G L Peiris’ made the request when he met UAE Industry and Advanced Technology Minister Sultan Al Jaber on the sidelines of the 76th session of the United Nations General Assembly (UNGA) in New York.
“[Minister Pieris] focused in particular on the country’s requirement of oil, and requested concessionary arrangements from the UAE,” the foreign ministry said in a statement.
“Minister Al Jaber, responding positively, said that the UAE would be happy to assist, and proposed the establishment of a strategic framework to take the process forward.”
Sri Lanka is also in discussion with the Indian government for a 500 million US dollar credit line to buy fuel and delay payments.
Economynext
Foreign Minister G L Peiris’ made the request when he met UAE Industry and Advanced Technology Minister Sultan Al Jaber on the sidelines of the 76th session of the United Nations General Assembly (UNGA) in New York.
“[Minister Pieris] focused in particular on the country’s requirement of oil, and requested concessionary arrangements from the UAE,” the foreign ministry said in a statement.
“Minister Al Jaber, responding positively, said that the UAE would be happy to assist, and proposed the establishment of a strategic framework to take the process forward.”
Sri Lanka is also in discussion with the Indian government for a 500 million US dollar credit line to buy fuel and delay payments.
Economynext
