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Deputy Minister of External Affairs, Hon. Neomal Perera led a Trade & Investment Promotional Mission to South Korea

October 20 2011-(Embassy of Sri Lanka, Seoul) - Deputy Minister of External Affairs, Hon. Neomal Perera successfully concludes three-day Trade and Investment Promotional Mission to South Korea Heading a 15-member Business Delegation from Sri Lanka Korea Economic Co-operation Committee of Ceylon Chamber of Commerce, during 16th to 20th October 2011.

During the visit, Deputy Minister Perera called on Hon. KIM Jae-Shin, Deputy Minister of Foreign Affairs and Trade (MOFAT) of the Republic of Korea and held discussions in strengthening bilateral relations between the two countries. At the meeting, Korean Deputy Minister assured extending Korea’s fullest cooperation in Sri Lanka’s development efforts and also agreed to seek the possibility of concluding APTA third round of trade negotiations soon to give effect to trade concessions enabling Sri Lankan exports to be more competitive in the Korean market.

Korea Chamber of Commerce & Industry (KCCI) which is the key trade chamber in Korea, hosted a Trade and Investment Seminar with the participation of more than 50 leading Korean companies followed by one to one business meetings enabling visited business delegation from Sri Lanka Korea Economic Co-operation Committee of Ceylon Chamber of Commerce to establish business links with relevant Korean companies. Deputy Minister addressing the seminar in his key note speech highlighted the political and socio-economic situation currently prevails in the country after ending three decade long civil conflict and invited Korean businessmen to exploit vast array of business opportunities available by investing in Sri Lanka and to do business with Sri Lankan companies.

Deputy Minister met Executive Managing Director of Korea International Trade Association (KITA) which is one of Korea’s largest business associations having membership of more than 65,000 companies and held discussions in seeking possible avenues of strengthening bilateral commercial relations between the two countries. At the meeting KITA agreed to make their member companies aware about current business prospects available in Sri Lanka in attracting Korean companies to invest in Sri Lanka and to do more business with Sri Lanka.

Deputy Minister Perera had discussions with the Chairman and the key office bearers of Korea Importers Association (KOIMA) which is the key Korean organization represents the interest of Korean importers having more than 8,500 member companies in seeking avenues to enhance Sri Lankan exports to Korea. At the Meeting, after briefing about Sri Lanka’s export potentials highlighting economic stability in the country, Deputy Minister requested KOIMA to lead a business delegation to Sri Lanka to attend “Sri Lanka Expo” which will be held during 28th to 30th March 2012 and KOIMA agreed to favorably consider the request. Furthermore, KOIMA hosted one to one business meetings enabling visited business delegation from Sri to establish business links with KOIMA member companies at their Head office.

Deputy Minister had a meeting with the Executive Vice President and other key office bearers of Korean Air and held discussion in seeking possibilities of establishing direct air links which is a key requirement in promoting bilateral tourism and business relations. After the detailed submission of the Deputy Minister with regard to the existing potentials, Korean Air agreed at the Meeting to send a team of experts to Sri Lanka in studying the possibility of introducing direct air links between Colombo and Seoul while looking at the possibility of extending seasonal charter flights currently flying to Maldives from Seoul, to Colombo.

Small & Medium Business Corporation (SBC) of Korea hosted an Investment Seminar at their regional headquarter in Incheon with the participation of large number of member companies of SBC. Addressing the Seminar, Deputy Minister invited members of SBC to invest in Sri Lanka in obtaining attractive business prospects available in Sri Lanka with special reference to Sri Lanka’s unique advantage of accessing to huge market of about 1.6 billion population thanks to signing FTAs with India and Pakistan. At the end, a MOU was signed between Sri Lanka Korea Economic Co-operation Committee and Incheon-Bucheon-Gimpo SMEs Hybrid Business Association, in the presence of the Deputy Minister, in promoting commercial relations between the two countries.

Mr. Mahen Kariyawasan, Managing Director of Andrews Group of Companies led the business delegation being the President of Sri Lanka Korea Economic Co-operation Committee of Ceylon Chamber of Commerce and Director, Board of Investment of Sri Lanka (BOI) and Deputy Director of Sri Lanka Export Development Board (EDB) were also joined the Mission in addition to other leading Sri Lankan companies. Both BOI and EDB made presentations highlighting investment potentials in Sri Lanka in attracting Korean companies to invest in Sri Lanka and about ‘Sri Lanka EXPO” which will be held in Sri Lanka during 28th to 30th March 2012 inviting Korean companies to visit Sri Lanka to join EXPO, respectively at all the above business Meetings and seminars.

Deputy Minister and the Delegation was associated by Ambassador Tissa Wijeratne and Commercial - Counsellor Charitha Yattogoda during the visit which was organized and coordinated by the Embassy of Sri Lanka in Korea.

Expo Event Calendar

Sri Lanka Expo 2012 will be held from 28th to 31st of March, 2012 at BMICH. Click here to view the Expo Event Calendar

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Stakeholders

  • Ministry of Industry & Commerce
  • Ministry of External Affairs
  • Ministry of Economic Development
  • Ministry of Plantation Industries
  • Sri Lanka Export Development Board
  • Department of Commerce
  • Board of Investment
  • Sri Lanka Tourism Development Authority
  • National Gem & Jewellery Authority
  • Sri Lanka Export Credit Insurance Corporation
  • Sri Lanka Ports Authority
  • Department of Export Agriculture
  • Sri Lanka Tea Board
  • Coconut Development Authority
  • National Chamber of Exporters of Sri Lanka
  • National Chamber of Commerce of Sri Lanka
  • Ceylon Chamber of Commerce
  • Federation of Chambers of Commerce and Industry of Srilanka

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