Sri Lanka and Japan hold Economic Cooperation Policy Dialogue
Daily FT: Sri Lanka and Japan recently held the Economic Cooperation Policy Dialogue for the first time under the new NPP Government.
The visiting Japan Ministry of Foreign Affairs Assistant Minister/Director-General, International Cooperation Bureau Ishizuki Hideo, and Sri Lanka’s Treasury Secretary Dr. Harshana Suriyapperum chaired the dialogue.
Ambassador of Japan to Sri Lanka Isomata Akio and representatives from the Ministry of Foreign Affairs, Ministry of Finance, Ministry of Economy, Trade and Industry (online), the Embassy of Japan and Japan International Cooperation Agency (JICA) also attended the meeting.
In his remarks, DG Ishizuki highlighted that Sri Lanka is a critical partner for maintaining and promoting a Free and Open Indo Pacific and expressed his determination to continue development cooperation with Sri Lanka, supporting its efforts to improve the standard of living of the people and to combat corruption, in particular. In his remarks, Ambassador Isomata noted that Japan will continue to work closely with the Government of Sri Lanka for the country’s sustainable development.
During the Dialogue, DG Ishizuki elaborated on the overview of Japan’s Official Development Assistance (ODA) and its Country Development Cooperation Policy, which defines the direction of Japan’s ODA policy for Sri Lanka.
Both sides exchanged views on Japan’s future development cooperation with Sri Lanka, including the ongoing yen loan projects to stabilise and reinforce Sri Lanka’s economy as well as overcome its socioeconomic challenges.
OSL take:
Sri Lanka and Japan enjoy strong bilateral and trade ties that are being further strengthened through dialogue like the recently held Economic Cooperation Policy Dialogue. Japan is also a key development partner of Sri Lanka and has engaged in the country’s development programme in key economic sectors while Japanese businesses have also set up operations in Sri Lanka in their business expansion programmes. The growth and profits recorded by the Japanese businesses in Sri Lanka indicate the growth and business potential in Sri Lanka. With Sri Lanka currently engaged in an economic expansion path and the many business/investment opportunities presented as a result, Japanese businesses/investors could explore the emerging lucrative ventures. Sri Lanka’s geographical positioning in the Indian Ocean, many trade agreements as well as the trade ties enjoyed by the country with many foreign countries and the improving business conducive environment have all added to Sri Lanka’s attraction as an emerging business destination in the South Asian region. Given that Sri Lanka is working towards becoming a regional hub indicating a continuous growth in the country’s business/investment opportunities, Japanese businesses/investors could explore the expanding opportunities in the country. Japanese businesses could also look at further expanding operations in the region through collaborations with Sri Lankan businesses.
| Article Code : | VBS/AT/20250709/Z_1 |