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Korea expands trade ties with SL

Republic of Korea Presidential Envoy and Trade, Energy and Resources, Knowledge Economy Ministry Vice Minister Park Young June and his delegation called on External Affairs Minister Prof G L Peiris on February 23.


Korean Presidential envoy and Deputy Trade, Energy and Resources Minister Park Young June called on External Affairs Minister Prof G L Peiris at his Ministry recently.

While extending a cordial welcome to the Vice Minister and his business delegation, Minister Peiris said that Sri Lanka and Korea had been enjoying a strong relationship in every sphere such as economic, cultural and social fields and highlighted that there were ample new opportunities in Sri Lanka to attract Korean investments.

These opportunities should be exploited, especially in the current post-conflict peaceful environment in the country, he said.

Minister Peiris proposed that since Sri Lanka has highly educated and talented human resources, the Korean private sector could exploit this natural advantage in full.

He also thanked the Korean Government for the hospitality extended to more than 20,000 Sri Lankan workers in Korea.

Minister Peiris highlighted investment opportunities in other areas such as the service sector, fisheries, computer technology and infrastructure sectors and briefed on the incentives and advantages that are available for the investors. Since tourism was the most rapidly progressing sector in Sri Lanka, Prof Peiris invited investments from Korea in the hospitality sector.

While thanking the External Affairs Minister for the new ideas suggested by him for the investments in Sri Lanka, Vice Minister June stated that many Korean companies are interested in investing in Sri Lanka.

He said that the purpose of his visit was to enhance trade and investments in Sri Lanka.

He said that his visiting business delegation was having one to one meetings with the business community in Sri Lanka to develop further cooperation in various sectors.

Vice Minister June also indicated Korea’s willingness to cooperate in the new areas such as nuclear power generation, wind power generation and renewable energy.

He also mentioned that many Korean companies are interested in oil and gas development projects as well.

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