Sri Lanka and Japan signed a Memorandum of Cooperation on economic policy dialogue following the Sri Lanka–Japan Intergovernmental Economic Policy Dialogue held on 16 February at the Ministry of Finance, Planning and Economic Development auditorium.

The agreement formalises collaboration between the two Governments on economic policy engagement. On behalf of Sri Lanka, the MoC was signed by Secretary to the Ministry of Trade, Commerce, Food Security and Cooperative Development K.A. Vimalenthirarajah, and Acting Additional Secretary for Bilateral Economic Affairs at the Ministry of Foreign Affairs Dharshana M. Perera. Representing Japan, the signatories were Vice Minister for International Affairs at the Ministry of Economy, Trade and Industry Matsuo Takehiko, and Director of Southwest Asia Division at Japan’s Ministry of Foreign Affairs Murotani Masakatsu.

During the dialogue, officials discussed a roadmap aimed at strengthening bilateral economic relations. Presentations covered Sri Lanka’s foreign investment policy and opportunities to attract foreign direct investment. Participants were also introduced to a roadmap for establishing an industrial economic corridor and a review report assessing Sri Lanka’s export capacity.

The Japan External Trade Organisation presented a report on the business environment for Japanese companies operating in Sri Lanka. Japanese firms Itochu and Mitsui shared their business experiences in the country.

Both sides expressed confidence that the Memorandum of Cooperation and the dialogue would deepen economic ties and reinforce longstanding bilateral relations. A working group will be established to operationalize the proposed industrial economic corridor.

The event was attended by Secretary to the Ministry of Finance, Planning and Economic Development Harshana Suriyapperuma; Ambassador of Japan to Sri Lanka Isomata Akio; Senior Economic Adviser to the President Duminda Hulangamuwa; Director General of the Board of Investment of Sri Lanka Renuka Weerakoon; Ceylon Chamber of Commerce Chairperson Krishan Balendra; Japan–Sri Lanka Business Cooperation Committee Chairperson Fumihiko Kobayashi; and other public and private sector representatives.