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Sri Lanka and Japan to further strengthen bilateral relations

Sri Lanka and Japan to further strengthen bilateral relations

Japan has reportedly stated that it would take steps to further strengthen longstanding bilateral relations with Sri Lanka.
This observation had been made by the visiting Japanese State Minister for Regional Revitalisation Kozo Yamamoto when he had reportedly paid a courtesy call on Sri Lanka’s President Gotabaya Rajapaksa at the Presidential Secretariat.
“Sri Lanka has a secure and stable Government. The economy is also progressing. In this context, a conducive investment environment has been created in Sri Lanka for Japanese investors,” the State Minister has said, according to a statement issued by the President’s Media.
“As a country which has mastered industries such as security and the development of high quality infrastructure among many other fields, Japan has a lot to offer Sri Lanka,” Yamamoto has said.
President Rajapaksa has explained that the growth rate of Sri Lanka, which was around 7% in 2014, had since declined and the greatest challenge before him was to revive the economy.
The President has requested Minister Yamamoto to invest in high-tech assembly plants in Sri Lanka, to which Yamamoto has responded positively and promised to promote Sri Lanka within the Japanese business community.

OSL take:

The commitment between Sri Lanka and Japan to further boost bilateral relations would undoubtedly result in the further strengthening of trade ties between the two countries. Japan is already one of the main financial donors to Sri Lanka and is a development partner of the island. Given the close ties between the two countries, Japanese businesses/investors could confidently explore business/investment opportunities in Sri Lanka.

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Article Code : VBS/AT/20200120/Z_1

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