Sri Lanka looks to attract more South Korean investments

GMT 00:24 2015 Wednesday ,12 August

Arab Today, arab today Sri Lanka looks to attract more South Korean investments

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Sri Lanka is seeking to enhance its political and economic ties with South Korea and the island nation plans to attract more South Korean investments, a statement said here on Tuesday.

Sri Lanka's designated envoy to South Korea Manisha Gunesekara was quoted in the statement by the Ceylon Chamber of Commerce as saying the country's economic links with South Korea were mainly from the large number of Sri Lankans working in that country and also nearly half a billion dollars' worth of trade between the two nations.

Trade between Sri Lanka and South Korea in 2014 amounted to 485 million U.S. dollars with the balance of trade in favour of South Korea, accounting to a sum of 340 million U.S. dollars.

Gunesekara said she plans to help lift Sri Lankan exports to South Korea and also focus on attracting South Korean investments into Sri Lanka, which stands at a marginal level.

Apart from focusing on developing trade and investment ties between the two countries, Sri Lanka will also look to strengthen political relationship with South Korea.

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