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Minister of Development Strategies and International Trade, Malik Samarawickrama who recently met with the Korean Vice Minister of Trade, Industry and Energy, Woo Taehee has conveyed the interest of the Sri Lankan Government to enter into a Free Trade Agreement with Korea in the future.

While discussing ways and means to further enhance bilateral trade which currently remains at a modest level, Minister Samarawickrema welcomed the early conclusion of the proposed Agreement on Economic Cooperation between the two Governments which would provide a framework for discussion on economic issues such as a Joint Working Group.

According to a statement from the Ministry, Minister Samarawickrema also referred to the need to forge closer cooperation between the Chambers of Commerce and Industry of the two countries, including the exchange of more business visits.

Meanwhile, during a meeting with the Korean Deputy Prime Minister and Minister of Strategy and Finance, Yoo Il-ho the Sri Lankan Minister strongly welcomed more Korean investment in Sri Lanka’s growing economy, taking advantage of the island nation’s strategic location in the Indian Ocean with access to markets and value chains in the Indian sub-continent, Europe, the Middle East and Africa.

In discussions with the Korean Minister of Land, Infrastructure and Transport Kang Ho, Minister Samarawickrama strongly welcomed the Korean Ministry’s engagement in the Megapolis and Western Development programme in Sri Lanka within the framework of the MOU signed with the Ministry of Megapolis and Western Development in May this year.  The two Ministers discussed progress and ongoing collaboration on the megapolis programme via the Korea Land and Housing Corporation, which has opened up a valuable opportunity for Korean companies to invest in Sri Lanka’s development drive.

The State Minister of Science, Technology and Research Lakshman Seneviratne; Sri Lanka’s Ambassador to the Republic of Korea Manisha Gunasekera; Secretary, Ministry of Development Strategies and International Trade Chandanie Wijayawardhana; Managing Director, Agency for Development of Sri Lanka Mangala Yapa; Director General, Board of Investment of Sri Lanka Duminda Ariyasinghe and Minister Counsellor/ Commercial of the Sri Lanka Embassy in Seoul Jagath Abeywarna, were associated with the visit.

Minister Malik Samarawickrama’s meetings with…

Korean Deputy Prime Minister and Minister of Strategy and Finance  Yoo Il-ho
Korean Deputy Prime Minister and Minister of Strategy and Finance Yoo Il-ho
Minister of Land, Infrastructure and Transport  Kang Ho-in
Minister of Land, Infrastructure and Transport Kang Ho-in
Korean Vice Minister of Trade, Industry and Energy  Woo Taehee.  State Minister Lakshman Seneviratne looks on
Korean Vice Minister of Trade, Industry and Energy Woo Taehee. State Minister Lakshman Seneviratne looks on
Chairman and President of EXIM Bank of Korea Lee Duk-hoon
Chairman and President of EXIM Bank of Korea Lee Duk-hoon