SL-Korea Business Council holds 24th AGM

Sri Lanka-Korea Business Council Vice President John Shiran Dissanayake, Korean Ambassador Lee Heon, Sri Lanka Korea Business Council  President Mahen Kariyawasan, Sri Lanka Korea Business Council  Secretariat Dinithi Dias, Sri Lanka Korea Business Council Vice President Priyantha Mendis

By Charumini de Silva

Sri Lanka-Korea Business Council (SLKBC) of the Ceylon Chamber of Commerce held its 24th Annual General Meeting (AGM) recently in Colombo, where Mahen Kariyawasan, the Chairman of Andrew the Travel Company Ltd., was re-elected President. 

SLKBC President Mahen Kariyawasam said that Sri Lanka has a lot of opportunities to exploit its full potential to benefit from the growing economy of South Korea.

He identified the council’s main objectives as to promote bilateral trade, investment, technical and economic cooperation, tourism and services between Sri Lanka and Korea. 

Kariyawasam also expressed this gratitude for the excellent cooperation and support extended to the council by the Embassy.

In terms of trade between the two countries he said that there was an increase of imports compared to 2016 and decrease in exports with Korea by 4.5% compared to 2016. Out of the total imports worth of Rs. 51,361 million in 2017, the top five importers products include machinery and mechanical appliances, electrical machinery, equipment and parts, rubber and articles thereof, knitted or crocheted fabrics as well as plastics and articles thereof.

Accordingly, of the top five products exported to Korea worth of Rs. 9,553 million in 2017 include apparel and clothing (not knitted or crocheted) paper yarn and woven fabric of paper yarn, apparel and clothing, rubber and articles thereof and miscellaneous chemical products. 

“With regards to tourism industry, tourist arrivals from Korea have increased from 14,520 in 2016 to 15,963 in 2017 by recording an increase of 9.9% from the previous year,” Kariyawasam noted.

He also acknowledged the encouragement given by Industry and Commerce Ministry, Embassy of the Republic of Korea, Korean Businessmen’s Association, Sri Lanka Export Development Board, Foreign Affirms Ministry, Board of Investment, Korea International Co-operation Agency (KOICA) and Sri Lanka Embassy in Korea for pursuing of SLKBC activities.

Chief Guest of the event Republic of Korea Ambassador Lee Heon commended the unwavering commitment and efforts of SLKBC in promoting strong economic relations between the two countries. 

“I am happy to note that during the past few decades, there has been a deepening relationship between Sri Lanka and Korea, which makes us greatly optimistic about the SLKBC. In this regard, I would like to say we have a lot more to do in enhancing the friendship between the two countries to next level,” he said.

He hopes that SLKBC will continue to stand side by side with him and the Embassy in successfully achieving goals. He also rest assured that the Embassy will support the council in all its worthy endeavours. 

“I wish SLKBC will flourish in years to come and to stand as a visible symbolic to enhance bilateral relationships between the countries and look forward to work with you to achieve our common goals,” he added. 

The Ambassador also extended an invitation to all SLKBC members to set up their promotion booths at the upcoming Korean National Day Reception on 28 September at the new residence in Colombo 07. 

Pix by Indraratne Balasuriya