International Economic Developments

Korean Ambassador Pledges New Investments and Strengthened Ties with Sri Lanka

The Ambassador of the Republic of Korea, Miyon Lee, paid a courtesy visit to President Anura Kumara Dissanayake at the Presidential Secretariat on October 9th. The meeting marked a significant step in strengthening the bilateral relations between Korea and Sri Lanka. Ambassador Lee congratulated President Dissanayake on his inauguration and extended best wishes from Korean

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International Economic Developments

Biden Commits to Strengthening US-Sri Lanka Ties in Letter to Dissanayake

In a letter to Sri Lanka’s newly elected President Anura Kumar Dissanayake, US President Joe Biden expressed a commitment to strengthening ties between the two nations, focusing on economic development, regional security, and democratic governance. The letter, described by Sri Lanka’s President’s Media Division (PMD) as a “significant gesture of diplomatic goodwill,” followed Dissanayake’s recent

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International Economic Developments

Revival of Japanese Development Projects in Sri Lanka

As Sri Lanka approaches the completion of its debt restructuring process, optimism is rising for the resumption of long-stalled development initiatives. Eleven Japanese-funded projects, previously halted due to the country’s economic and political turmoil, are set to restart. Economists stress that while ongoing projects will be reinstated, any new ventures will depend on Sri Lanka’s

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International Economic Developments

Korean Exim Bank Resumes Funding for Sri Lanka’s Development Projects

The Export and Import (Exim) Bank of Korea has agreed to resume financial support for Sri Lanka’s development projects, according to the President’s Media Division (PMD). The decision was announced during a meeting between Exim Bank of Korea officials and Secretary to the President Nandika Sanath Kumanayake at the Presidential Secretariat on Thursday (03). Financial

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International Economic Developments

Celebrating Excellence: The 10th Edition of Top German Brands in Sri Lanka

The Delegation of German Industry and Commerce in Sri Lanka (AHK Sri Lanka) marked a significant milestone by hosting the 10th edition of the ‘Top German Brands in Sri Lanka’ on September 19 at the Cinnamon Grand Hotel in Colombo. This year’s event highlighted the strong bilateral ties between Germany and Sri Lanka, recognizing the

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International Economic Developments

US Supports Sri Lanka’s Path to Economic Sustainability Post-Crisis: Foreign Relations Chair

The United States has reaffirmed its support for the people of Sri Lanka in their efforts to build “an inclusive, just, democratic, and economically sustainable future,” according to Senator Ben Cardin, Chair of the Senate Foreign Relations Committee. This statement comes as Sri Lanka continues to recover from a devastating economic crisis in 2022, which

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