1. On March 15th, 2023, the “Agreement on Economic Cooperation between the Government of the Republic of Korea and the Government of the Democratic Socialist Republic of Sri Lanka” comes into effect.

2. With the entry into force of this agreement, it is expected that Korea and Sri Lanka will enhance substantial cooperation in areas of mutual interest such as investment, trade, tourism, and industry.

o The two countries will establish a joint committee to explore ways to promote economic cooperation for the effective implementation of this agreement.

3. With the entry into force of the Korea-Sri Lanka Economic Cooperation Agreement, Korea has put into effect a total of 97 economic cooperation agreements. The government will continue to pursue the conclusion of economic cooperation agreements with foreign countries to expand people-to-people and material exchanges and further develop economic ties with them.