- · Agreement will cover the fields of investment partnership, trade relations, tourism promotion, and industrial cooperation
Sri Lanka will sign an economic cooperation agreement with
South Korea during the state visit of President Maithripala Sirisena, which is
scheduled for next month, the government said. The economic cooperation
agreement will cover the fields of investment partnership, trade relations,
tourism promotion, and industrial cooperation.
The Cabinet, this week, approved a proposal made by
Development Strategies and International Trade Minister Malik Samarawickrama to
sign this agreement. In March this year, South Korea’s then Foreign Minister
Yun Byung-se visited Sri Lanka as the first South Korean top diplomat to visit
Sri Lanka in 31 years. He held bilateral discussions with his Sri Lankan
counterpart during which both sides agreed to further strengthen economic ties.
South Korean Foreign Minister said that they want to expand
economic cooperation with Sri Lanka from 300 million dollars to 500 million
dollars over the next three years. Over 30,000 Sri Lankan workers are
officially employed in Korea in fisheries, manufacturing and construction
sectors under a special employment quota. Two countries also mark the 40th
anniversary of diplomatic relations this year.
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