President on State visit to Korea next week

President Mahinda Rajapaksa will undertake a state visit to South Korea from 23 to 27 April at the invitation of the President of South Korea Lee Myug-Bak. The President will be accompanied first lady Shiranthi Rajapaksa.

During his visit to South Korea, President Rajapaksa will hold talks with the South Korean President. Several bilateral agreements will also be signed during the visit. President Rajapaksa will address a business luncheon co-hosted by four Business Associations in Seoul and the Sri Lanka Korea business forum hosted by the Busan Chamber of Commerce and industry. He will also meet with heads of leading trade organisations in South Korea. A Sri Lankan business delegation will travel with the President to South Korea.
The relationship between Sri Lanka and South Korea dates back to 1968 when South Korea opened a Trade Mission in Colombo. In 1977, the relations were upgraded to that of an Embassy with a resident Ambassador for South Korea in Colombo while Sri Lanka’s Ambassador in Japan was concurrently accredited to Seoul in 1978. In 1987 Sri Lanka opened a resident Embassy in Seoul.

Sri Lanka’s exports to South Korea have gradually increased from US$ 18.4 million in 2004 to US$ 45.05 million in 2011. Coconut fibre, rubber products, articles of rubber and knitted and woven garments have been the major export items to Korea and value of these items altogether has constituted 36.7% of total exports in 2011. Other export items from Sri Lanka to Korea are rubber products, furniture, mattresses, tea, tableware and activated carbon.