A powerful new memorandum sets the stage for deeper trade, foreign direct investment, and long-term industrial cooperation between Colombo and Tokyo.
Sri Lanka and Japan have moved decisively to strengthen bilateral economic cooperation, marking a new phase in their strategic partnership. The Sri Lanka–Japan Intergovernmental Economic Policy Dialogue, held at the Ministry of Finance, Planning and Economic Development, concluded with the signing and exchange of a Memorandum of Cooperation. This MoC establishes a structured framework for sustained economic policy dialogue, trade expansion, and joint development 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 for Bilateral Economic Affairs at the Ministry of Foreign Affairs, formalized the agreement. Japan’s delegation featured Matsuo Takehiko, Vice Minister for International Affairs at the Ministry of Economy, Trade and Industry, and Murotani Masakatsu, Director of the Southwest Asia Division at Japan’s Ministry of Foreign Affairs.
The dialogue focused on a strategic roadmap to deepen economic ties. Key discussions highlighted Sri Lanka’s foreign investment policy reforms, opportunities for attracting foreign direct investment, and proposals for developing an industrial economic corridor. Officials also reviewed export capacity and examined a Japan External Trade Organization report on the business climate for Japanese firms in Sri Lanka. Corporate leaders from Itochu and Mitsui shared practical insights drawn from their operations.
Both sides expressed confidence that this partnership will boost trade, enhance investment flows, and reinforce long-standing diplomatic relations. A joint working group will now advance the industrial corridor initiative, signaling tangible next steps.
