Bilateral Relations
- Bilateral Relations
- Bilateral Relations
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Korea-Sri Lanka Relations
- DATE
- 2008-09-19
Korea-Sri Lanka Relations
1. Diplomatic Relations
- Established in November 1977
( and established the diplomatic relations on June 25, 1970. But, the North Korean Mission in closed in April 1971, on suspicion of involving in an uncovered plot to overthrow Sri Lankan government, and the North Korean Mission in has had jurisdiction over since 1973.)
2. Treaties
- Agreement between the Government of the Republic of Korea and the Government of the Republic of Sri Lanka for Air Services between and beyond their respective Territories, signed and coming into effect on January 20, 1978
- Cultural Cooperation Agreement between the Government of the
- Agreement between the Government of the
- Convention between the Government of the
- Trade Agreement between the Government of the
- Exchange of Notes between the Government of the Republic of Korea and the Government of the Democratic Socialist Republic of Sri Lanka concerning the "Economic Development Cooperation Fund" Loan to the Government of the Democratic Socialist Republic of Sri Lanka, signed and coming into effect on February 8, 1991
- Agreement On Scientific and Technological Cooperation between the Government of the
- Agreement between the Government of the
- Arrangement between the Government of the
- Arrangement between the Government of the
- Arrangement between the Government of the
- Arrangement between the Government of the
- Framework Arrangement Between the Government of the
3. Trade with
- Exports: 186 million US dollars (2007)
Main export items are textile, petrochemicals, machinery, steel products, electronics, paper stock and products, fertilizers, plastic goods, rubber goods, nonferrous metals, etc.
- Imports: 47 million US dollars (2007)
Main import items are agricultural products, textile goods, rubber goods, nonferrous metals, marine products, etc.
- Trade volume of with reached its peak of 530 million US dollars in 2005, but since then has been decreased to 233 US dollars in 2007.
- Exports to Sri Lanka have also declined from 204 million US dollars in 2005 to 193 million US dollars in 2006 and 186 million US dollars in 2007, mainly because the exports of textile materials has rapidly shrunken, which accounted for about 50% of Korea’s exports to Sri Lanka in the past.
- Imports from have increased in reverse direction from 38.1 million US dollars in 2005 to 38.7 million dollars in 2006 and 47.3 million US dollars in 2007, which thought to be caused by the rise of ’s demand for primary products including wheat bran, coconut products, rubber goods, etc.
4. Investment
- ’s total investment in is 164 million US dollars as of the end of 2007.
- 50 Korean companies are running in in , employing 10,820 Sri Lankan people.
5. Economic Cooperation
- Korean government has offered 48 million US dollars grant aid since 1991. In particular, 15 million US dollars grant aid has been provided for supporting the endeavors and efforts carried out for the rehabilitation and reconstruction of the tsunami affected areas since the tragic unexpected natural disaster in 2004 December.
- With regard to EDCF loans, the Korean Government has greatly contributed to ’s economy by providing 289 million US dollars as loans to since 1990. has become the 2nd largest recipient country of ’s EDCF assistance.
6. Employment Cooperation
- The Korean Government has provided employment opportunities for Sri Lankan workers in under the “Employment Permit System.” Since 2004, when 214 Sri Lankan workers first arrived in for employment under the new system, a total of 9937 Sri Lankan workers have been employed by as of August this year.
7. Other Cooperation
- On the civil, political and international sides, and have also strengthened the bilateral relationship. A lot of civil and religious organizations as well as the Government of the
- A Korea-Sri Lanka Bilateral Policy Consultative Meeting has been formally established in 2007, in which both Governments discussed and coordinated their policy on bilateral and multilateral issues.
- Korea joined the SAARC as an observer in 2006, and, at the 15th SAARC Summit held in Colombo August this year, a Minister from the Prime Minister’s Office of the Government of the Republic of Korea attended, and committed Korea’s strong support for the development of SAARC regional cooperation. (The
- On the international field, and have also progressed bilateral cooperation in many international forums and international organizations.
8. Related Organizations
- There are three representative organizations of . Sri Lanka-Republic of Parliamentary Friendship Association, was, for the first time, established in June 1982, and re-established in May 2005. Sri Lanka-Republic of Economic Cooperation Committee was established in November 1982. Sri Lanka-Republic of Association was established in July 1979.
9. Korean Residents
- Korean residents in are about 800, engaging in various business and study. Even though the number of Korean companies operating in has decreased since 2001, it still numbers up to about 50 companies, diversifying their investment areas into steel, construction (road, port, architecture, water supply, irrigation and sewerage treatment, etc), shipping, ceramic, textile, computers, etc.
- Embassy of the Republic of Korea in the Democratic Socialist Republic of Sri Lanka
- Address : No 98 Dharmapala Mawatha Colombo 7. Sri Lanka
- Phone: + 94-11-269-9036-8
Operating hours: 9:30 to 12:00, 14:30 to 16:30