Three Agreements signed between Korea and Sri Lanka

Sri Lanka and South Korea have signed three bilateral Agreements related to exchange of Information Technology, Economic Cooperation and electric power partnership were signed at the Blue House, the official residence of the Korean President in Seoul today.

The signing of the agreements took place after the bilateral discussions conducted between South Korean President Lee Myung-Bak and his Sri Lankan counterpart Mahinda Rajapaksa.

The Memorandum of Understanding in relation to Cooperation in the area of Information Technology between the Telecommunication and Information Technology Ministry of Sri Lanka and the Public Administration and Security Ministry of South Korea was inked by Minister Prof. G. L. Peiris on behalf of Sri Lanka. Minister of Public Administration and Security of Maeng Hyung-kyu signed on behalf of Korea.

The MOU on Economic Cooperation between the Finance and Planning Ministry of Sri Lanka and the Strategic and Finance Ministry of South Korea was signed by President’s Secretary Lalith Weeratunge and Vice Finance Minister of Korea Shin Je Yoon. Under this agreement the Korea Economic Development Cooperation Fund will be providing 200 million US Dollars once in four years. Accordingly, it will be possible to complete the projects launched in Sri Lanka in 2009.

The Agreement for an Electric Power Partnership was signed by the Secretary to the Ministry of Power and Energy M. M. C. Ferdinando and South Korean Vice Minister of Knowledge and Economy of Korea Yoon Sang-Jick. Among those present were Sri Lankan Parliamentarians.