Sri Lanka and Kuwait signed the Investment Promotion & Protection Agreement (IPPA) on 05th November 2009 marking Sri Lanka’s first such agreement with Gulf countries which includes Saudi Arabia, United Arab Emirates, Qatar, Oman and Bahrain. At a simple ceremony held at the Ministry of Finance of Kuwait. Mr. Khalifa M. Hamada, Undersecretary to the Ministry of Finance signed the agreement on behalf of Kuwait while Sri Lanka’s Ambassador to Kuwait Sarath Dissanayake signed for Sri Lanka. The negotiations on the IPPA have been concluded in June 2009.