Sri Lanka and South Korea reaffirm economic cooperation in high-level meeting
Daily FT: Finance and Planning Deputy Minister Dr. Harshana Suriyapperuma recently met with the Republic of South Korea Ambassador Miyon Lee to enhance financial and economic cooperation between the two countries.
During the meeting Dr. Suriyapperuma outlined the key priorities of the Government, stressing on the strong commitment to eradicating corruption, ensuring transparency in governance and delivering urgent economic relief to vulnerable groups.
A key highlight of the discussion was the Government’s plan to establish the long-awaited National Single Window System, a unified digital platform designed to streamline and amplify trade and customs procedures.
The Deputy Minister described it as a crucial measure to facilitate international trade, attract investment and make State processes more citizen and investor friendly.
Ambassador Lee welcomed the initiative and underscored the potential for South Korea to support such institutional reforms.
She also provided an update on several ongoing Korean-funded projects in Sri Lanka, suggesting that expediting these efforts could yield tangible economic and social benefits for the country.
In addition, she noted the growing opportunities for Sri Lankans to work in South Korea under the expanding labour mobility agreements between the two countries.
Ambassador Lee added that these opportunities not only support individual livelihoods, but also contribute significantly to Sri Lanka’s foreign exchange reserves through increased remittances.
OSL take:
Sri Lanka’s expanding economic activities and overall growth have presented many business/investment opportunities for discerning foreign businesses/investors on the lookout for lucrative ventures in the region. The country’s geographical positioning in the Indian Ocean, the many trade agreements as well as trade concessions enjoyed with many foreign countries and the increasing business conducive environment in the country have all poised Sri Lanka as an emerging business destination in the South Asian region. It is in such a backdrop that Sri Lankan authorities are engaged in promoting the many business/investment opportunities in Sri Lanka and the incentives on offer for interested foreign businesses/investors. The interest shown by many foreign businesses/investors to explore the opportunities on offer in Sri Lanka as well as the growth and expansion of foreign businesses already operating in Sri Lanka are all indicative of the growth and business potential in Sri Lanka. Given all these factors, foreign businesses/investors could confidently explore the expanding business/investment opportunities in Sri Lanka.
| Article Code : | VBS/AT/20250620/Z_7 |