BY APB Staff on 29 Apr 2024

Singapore and Sri Lanka have joined forces to advance the boating industry.

MOU signing

The Singapore Boating Industry Association (SBIA) and the Chamber of Marine Industries Sri Lanka (CMISL) have signed a Memorandum of Understanding (MOU), on the sidelines of the ICOMIA Asia Working Group Meeting.

The historic MOU paves the way for collaborative efforts to bolster the boating industry and maritime tourism in Sri Lanka.

Both organisations are member organisations of the International Council of Marine Industry Associations (ICOMIA), the global body for the recreational marine industry. The ceremonial signing took place at ONE°15 Marina Sentosa Cove in the presence of the High Commissioner of Sri Lanka to Singapore, H. E. Senarath Dissanayake, and ICOMIA CEO Joe Lynch.

The MOU highlights the mutual development of goodwill between the organisations, which aims to ensure a collaborative and respectful relationship in their efforts.

The MOU outlines several key areas of cooperation between SBIA and CMISL, including the joint establishment of marinas and the promotion of recreational boating in Sri Lanka.

Both parties say they are also committed to encouraging and supporting business initiatives and investment between the two nations to foster growth in the boating industry.

Additionally, the partnership aims to promote Sri Lanka as a destination for yachts transiting between the Mediterranean and Southeast Asia, further attracting international clientele and boosting the local economy.

Earlier this month, Sri Lanka revealed plans to position the island country as a leading destination for marine and superyacht tourism, thanks to a masterplan being implemented in the first half of this year.

the south side of Sri Lanka

The south side of Sri Lanka.

“This MOU marks an exciting new chapter in our relationship with CMISL,” says SBIA Chairman YP Loke. ” Together, we are committed to elevating the boating industry in both Singapore and Sri Lanka, and we look forward to achieving remarkable milestones together.”

CMISL Chairman Indhra Kaushal Rajapaksa, who is also the Vice President of Sri Lanka Singapore Business Council, adds: “Our partnership with SBIA will be a key driver for Sri Lanka’s maritime tourism growth and boat industry development. This MOU solidifies our commitment to working hand in hand for mutual benefit and prosperity.”

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