UAQ Free Trade Zone and Port City Colombo Sign Strategic Agreement to Promote Investment

Umm Al Quwain Free Trade Zone (UAQ Free Zone) and Port City Colombo have signed a strategic agreement aimed at promoting investment, strengthening business ties, and creating new opportunities between the UAE and Sri Lanka.

The agreement was signed during the second edition of “Sri Lanka Beyond Your Dreams”, held at Hilton Dubai Al Habtoor City and organised by the Consulate General of Sri Lanka in Dubai and the Northern Emirates.

The collaboration brings together the Colombo Port City Economic Commission, CHEC Port City Colombo (Private) Limited, and Umm Al Quwain Free Trade Zone Authority, creating a structured platform to connect businesses and investors across both markets.

Through the agreement, the organisations will exchange information on investment opportunities, introduce potential investors and businesses to one another, and support companies interested in exploring expansion opportunities in the UAE and Sri Lanka.

The partnership will also include joint roadshows, business meetings, webinars, investor events, and business delegations designed to create stronger commercial connections and facilitate direct engagement between investors, entrepreneurs, and business communities.

Johnson M. George, General Manager of Umm Al Quwain Free Trade Zone Authority, highlighted the importance of building a strong connection between the two business ecosystems and creating practical opportunities for companies and investors to access new markets.

The collaboration positions UAQ Free Zone and Port City Colombo as complementary gateways for international business expansion. UAE-based companies can explore opportunities across Sri Lanka and the wider South Asian market, while businesses and investors from Sri Lanka can benefit from greater access to the UAE’s established free zone and investment ecosystem.

The agreement also reflects the growing economic relationship between the UAE and Sri Lanka, with both markets seeking to strengthen investment flows, international business connectivity, and cross-border cooperation.

By combining UAQ Free Zone’s business-friendly ecosystem with Port City Colombo’s emerging position as a major investment and commercial hub in South Asia, the partnership aims to create long-term opportunities for investors, entrepreneurs, and companies operating across both regions.

Source: Khaleej Times