Foreign Minister invites UK to set up arbitration center

COLOMBO (News 1st); Sri Lanka has invited the UK to set-up an arbitration center in the country, Foreign minister G.L. Peiris stated during an event in London. The Sri Lanka - United Kingdom Chamber of Commerce was launched at the Sri Lankan High Commission in London recently, at which foreign minister G.L. Peiris and the British Prime Minister's Special Envoy for trade with Sri Lanka were present. The Foreign Minister said that at the moment, there is a significant interest in the country in establishing a Centre of Arbitration in Sri Lanka. Emphasizing that it would render a yeoman service, the Minister stated that there is a lacuna in the current legal system. He further stated that the country also has a highly developed legal system which has been nurtured and enriched by judges and scholars who have studied in British universities, however that Sri Lanka can do with a vibrant institution in the field of arbitration.