The Korean government has decided to increase the Economic Development Cooperation Fund (EDCF) from the existing USD 300 Million to USD 500 million over the next three years, Foreign Affairs Minister Mangala Samaraweera said.
The minister was addressing the media yesterday at the Ministry of Foreign Affairs. “The visit is significant as it is the first official visit of the Foreign Minister from the Republic of Korea(ROC) to Sri Lanka in 31 years.It also coincides with the 40th anniversary of establishing diplomatic relations between our two countries which we will be celebrating during the course of this year,”Minister Samaraweera said.
A Logo was launched to mark the 40th Anniversary of diplomatic relations between Sri Lanka and the Republic of Korea. The logo depicted the pearl shape of Sri Lanka, together with “T’aegukki” the Korean flag, which has been incribed in the middle of the pearl to mark the long lasting friendship between two countries. The colour schemes are based on two national flags.
A MOU was also signed between Bandaranaike International Training Institute and the Korea National Diplomatic Academy. Minister Samaraweera said the visit by the foreign minister will further enhance the warm and friendly relations between the two countries and pave the way for stronger ties in all spheres of cooperation.
He noted that the Korean government has also provided USD 200 000 as humanitarian assistance for drought relief.
“The Foreign Minister and I just concluded a productive discussion on ways and means of further enhancing our bilateral cooperation in areas of mutual interest including political relations, economic cooperation, development cooperation, labour relations, defence and cultural cooperation and also cooperation in regional and multilateral area. The ongoing Megapolis and Western Development Plan was also discussed,”he said.
Minister Samaraweera said they also discussed the situation in the Korean peninsula and regional security issues.
“I take this opportunity to call upon the Democratic People’s Republic of Korea(DPRK) to abide by international obligations ensuring a conducive environment for peace and security in the Korean region,” the minister said.
The Minister of Foreign Affairs of the Republic of Korea Yun Byung-se appreciated the firm stance taken by the Sri Lankan government with regard to the nuclear test and missile test carried out by the DPRK.
He said that the government of Sri Lanka condemned the nuclear test carried out by the DPRK and called upon the DPRK to abide by its international obligations and added that the Korean government expects more close cooperation in many other areas in regional and the international arena to safeguard the peace and security of the international community.
“I had fruitful discussions with the Sri Lankan Foreign Minister. We discussed about where we are and what we should do related to bilateral ties to take the relationship to the other level,” he said.