Sri Lanka, Japan and India are going to collaborate with the goal of developing the Colombo South Port’s East Container Terminal (ECT) in Sri Lanka. The governments of the three countries signed a Memorandum of Understanding (MoU) on Tuesday, May 28, representing the good relations amongst the participants.
The governments of Japan, India and Sri Lanka signed a deal to develop a terminal at the Port of Colombo, aiming to meet the development of the Indian Ocean to the world trade, as Nikkei Asian reports. The three countries will develop the East Container terminal, located at the south part of the port of Colombo, which was recently expanded.
According to local media, in the climate of Brexit discussions that debated between MPs, the Secretary of State for International Trade, Dr Liam Fox, is of the opinion that the port of Southampton could gain many advantages from new trade agreements. According to Dr Fox, after the Brexit, on the 29th of March, UK will immediately begin negotiations with the US, New Zealand, Australia and discussions with countries in the Pacific Rim.
Trading company Toyota Tsusho and the Japan Bank for International Cooperation are joining forces on a port project in Angola that will be the largest of its kind for Japanese businesses, according to Nikkei Asian Review. Both companies aim to raising 70 billion yen ($643 million) from public and private lenders in Japan. Their goal is to help the African fund the effort.
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