China's Sinopec signs agreements to enter fuel market in Sri Lanka

Sri Lankan government has decided to allow China's Sinopec to sell fuel in the domestic market. Colombo has signed a trade agreement permitting the Chinese petrochemical giant to self-fuel domestically. The deal brings to an end a two-decade long duopoly enjoyed by the state-run ceylon petroleum and the Indian Oil Corporation president of Sri Lanka Ranil Wickremesinghe was present at the signing of the agreement he termed it a crucial step to ensure a steady and uninterrupted fuel supply for the nation.