COLOMBO, Oct. 8 (Xinhua) -- Sri Lankan cabinet approved an agreement to facilitate legally valid trade activities with Russia through transparent, predictable customs procedures, a statement from the government's information department on Tuesday.

According to the department, although the cabinet approval was granted on Nov. 15, 2021 to sign a bilateral agreement to provide facilities for legally valid trade activities through transparent and predictable customs procedures after a series of bilateral discussions between the Sri Lankan government and Russian government, it has not been signed.

However, the cabinet approved the proposal presented by President Anura Kumara Dissanayake who is also minister of finance, economic development, policy formulation, planning, and tourism to sign for it.