COLOMBO, Sri Lanka — Sri Lanka and Japan have begun work on plans for an export-oriented industrial corridor, setting up a joint working group to identify priorities and a timetable for the project.
The first meeting of the Sri Lanka-Japan Joint Working Group on Export-Oriented Industrial Corridor Development was held at the Japanese Embassy in Colombo on Aug. 25.
The group was established following an agreement reached at an intergovernmental economic policy dialogue in February, where the two countries agreed on a conceptual road map for developing the corridor.
At the first meeting, officials discussed the business environment needed to put the plan into effect, areas that should receive priority and a possible timeline for implementation.
The Japanese side included representatives from the Embassy of Japan, the Ministry of Economy, Trade and Industry, the Ministry of Foreign Affairs, the Japan External Trade Organization, or JETRO, the Japan International Cooperation Agency, or JICA, and the Japanese Chamber of Commerce and Industry.
Sri Lankan officials included representatives from the Ministry of Trade, Commerce, Food Security and Co-operative Development and other government agencies.
Earlier the same day, the fifth meeting of the Japan-Sri Lanka Committee on Business Environment was held at the Board of Investment.
Japanese companies operating in Sri Lanka joined officials from both countries to discuss problems faced by investors and possible measures to improve the country's business environment.
Representatives from the Japanese Embassy, JETRO, JICA and the Japanese Chamber of Commerce and Industry attended, along with officials from the Board of Investment and other Sri Lankan agencies.
The discussions focused on concerns raised by Japanese businesses already operating in Sri Lanka and ways to encourage further Japanese investment.
The two meetings come as Sri Lanka seeks to attract more foreign investment and expand exports as part of its economic recovery.
