SL, Korean businesses receive first-hand insight on boosting trade relationships

Sri Lank-Korea Business Council members at interactive session held at Ceylon Chamber of Commerce
Pic by Kithsiri de Mel 

Sri Lankan and Korean businesses received first-hand insight on engaging in trade with one another recently, via an event that was hosted by the Sri Lanka-Korea Business Council to mark 45 years of diplomatic relations between the two nations.  

With the goal of having a firmer economic relationship between the two countries, Sri Lanka-Korea held several sessions to look at the opportunities for business and sharing experiences in trade. 

“As we celebrate the 45th anniversary of diplomatic relations this year, I sincerely hope that this celebratory year unlocks a renewed, rejuvenated and remarkable chapter of bilateral ties for the next 45 years,” said Ambassador of the Republic of Korea in Sri Lanka Santhush Woonjin Jeong, at an event held at the Ceylon Chamber of Commerce recently. 

Since 1977, Korea and Sri Lanka have shared a robust bilateral partnership based on numerous avenues, including economic, trade, investment, labour, cultural and education cooperation. 

Jeong highlighted that Korea, once an aid recipient country, has now joined the ranks of ‘donor’ countries and was recorded as the 10th largest economy and the seventh largest exporter in the world last year. 

Noting that knowledge sharing is a key objective of Korea’s international cooperation, he shared that since 2012, Korea has considered Sri Lanka as a strategic development partner country and has continuously engaged with Sri Lanka to share knowledge and development experiences of Korea. 

“Korea and Sri Lanka share similar outward-oriented, export-led industrialisation policies. Korea has invested in fostering high value-added manufacturing industries and improving the research and development capabilities,” said Jeong.

The event was also graced by Board of Investment of Sri Lanka Director General Renuka M. Weerakone, Sri Lanka Export Development Board Chairman Suresh De Mel and Foreign Affairs Ministry Additional Secretary Prof. A. Saj U. Mendis.