Sri Lanka, South Korea boost ties with five MoUs

Anthony David reporting from Seoul

Sri Lanka and South Korea yesterday further strengthen ties by signing five agreements and Memorandum of Understandings (MOUs) including an agreement for a loan of $ 500 million during 2017-2019.

The agreements were reached soon after talks between President Maithripala Sirisena and his South Korean counterpart Moon Jae-in were concluded at the President’s house – Cheong Wa Dae (Blue House) - on Wednesday morning.

A wide range of subjects figured during the talks between the two leaders including regional security, improvements in human rights and reconciliation in Sri Lanka and bilateral co-operation. The talks were followed by extended discussions attended by six Cabinet ministers from Sri Lanka.

Sri Lanka expressed its appreciation by entering into an agreement on assistance extended by the Korean Exim Bank/Economic Development Co-operation Fund for various development schemes in the country.

Agreements were also reached on co-operation in arts, education, culture and sports as well as economic co-operation.

Sri Lanka also expressed its appreciation to the South Koran Government over job opportunities provided to Sri Lankan youth mainly in the manufacturing, fisheries and construction industry and urged South Korea to increase its annual quota.

Minister of Justice and Foreign Employment Thalatha Athukorale signed a MOU on an Employment Permit System (EPS) which provides improved labour conditions. Another MOU was signed with the Board of investment.

President Sirisena, during the extended talks, recalled that Sri Lanka has enjoyed 40 years of strong diplomatic relations and he was looking forward to turning over a new leaf with relations.

The Korean President said the two countries were able to enhance co-operation in line with the ambitions of their people.

He noted that trade, investment and travel between the two countries had improved over the years.

Earlier President Sirisena visited the Seoul National Cemetery where monuments have been put up for more than 100,000 war heroes killed in the Korean War. He laid a wreath and burned incense near the memorial monument before leaving for official talks.