Sri Lanka and Japan took a significant step in strengthening their economic ties yesterday with the successful convening of the Sri Lanka–Japan Intergovernmental Economic Policy Dialogue at the Ministry of Finance, Planning and Economic Development auditorium. The highlight of the event was the signing and exchange of a Memorandum of Cooperation (MoC) between the respective ministries, formalizing a framework for ongoing collaboration on economic policy dialogue and joint initiatives.
Representing Sri Lanka, K. A. Vimalenthirarajah, Secretary to the Ministry of Trade, Commerce, Food Security and Cooperative Development, and Dharshana M. Perera, Acting Additional Secretary (Bilateral Economic Affairs) at the Ministry of Foreign Affairs, signed the agreement. Japan’s delegation included Matsuo Takehiko, Vice Minister for International Affairs at the Ministry of Economy, Trade and Industry (METI), and Murotani Masakatsu, Director of the Southwest Asia Division at the Ministry of Foreign Affairs.
The dialogue featured in-depth discussions on a strategic roadmap to enhance bilateral economic relations. Presentations highlighted Sri Lanka’s foreign investment policy, potential avenues for attracting foreign direct investment, and proposals for an industrial economic corridor. A comprehensive review of the country’s export capacity was also presented, alongside a report by the Japan External Trade Organization (JETRO) on the current business environment for Japanese firms operating in Sri Lanka. Leading Japanese companies, including Itochu and Mitsui, shared insights from their local business experiences.
Officials from both countries expressed optimism that the MoC and associated policy dialogue would elevate Sri Lanka–Japan economic cooperation and strengthen their long-standing friendship. Plans were announced to establish a working group to implement the industrial economic corridor concept.
