The Ceylon Chamber reinforces business ties with Korea

The Ceylon Chamber of Commerce (CCC) entered into a Memorandum of Understanding  with the Korea Chamber of Commerce and Industry (KCCI) in Seoul on 24 April at the Korea-Sri Lanka Business Forum during the state visit of President Mahinda Rajapaksa.

“With the signing of this agreement and the support of the Sri Lanka – Korea Economic Co-operation Committee (SLKECC) I’m confident that the trade relation will grow from strength to strength for the mutual benefit of our two countries,” said CCC representative Daya Weththasinghe in his opening remarks. This was the CCC’s 96th MoU signed with leading business support organisations and chambers around the world.

“The MoU signed by the KCCI and CCC will further expand the relationship between Sri Lanka and Korea to develop trade, investment and tourism. There is no doubt that many new avenues will open for employment opportunities for Sri Lankan skilled workers in Korea as a result of this State visit. May we extend our sincere invitation for you to consider organising trade missions to Sri Lanka regularly in future,” said Sri Lanka-Korea Economic Co-operation Committee President Mahen Kariyawasan in his closing remarks at the business forum.  The Sri Lanka-Korea Economic Co-operation Committee was established in 1982 and it is one of the twenty-one Business Councils that function under the aegis of the CCC. The focus of bilateral business councils is to promote trade between two countries, attract Foreign Direct Investments from and to Sri Lanka and to promote tourism. The Patron of the SLKECC is the Ambassador for Korea in Sri Lanka.  An 11-member business delegation representing the SLKECC and the Ceylon Chamber of Commerce will also be participating at the business forum that will be organized by the Busan Chamber of Commerce and Industry on 26 April in Busan.

During the last six months there have been a number of trade promotion missions between Sri Lanka and Korea indicating the growing business interest prevailing between the two countries. At present the trade balance is in favour of Korea.