Korea to boost cooperation with Lanka

Director General of the International Development Assistance Division of the Prime Minister's Office of the Republic of Korea, Paek Il-Hyun visited Sri Lanka from June 13-15.

During his visit Paek met Deputy Secretary to the Treasury, Dr. D.M.S. Batagoda, to discuss various development needs of the country and future cooperation between the two countries.

He visited several project sites including the solar power plant and the government administrative complex in Hambantota funded by the Korean Government.

Paek said that Sri Lanka has made significant economic progress in the past few years despite the negative global economy and instability in the international financial markets. He said that Sri Lanka's economic development shares similarities with Korea's past.

Paek said that as Korea was once a recipient country of foreign development aid. Today it provides assistance to national development programs of partner countries.

He said that understanding the needs of the partner country's development priorities is important in carrying out the agreed projects between the two countries. Paek said that due to the efforts of the two countries, the Country Partnership Strategy Plan is underway to support Sri Lanka achieve balanced and sustainable development in line with its national development program up to 2016.

He said that the Government's human resources development and capacity building are similar to what Korea did during the 1970s. Paek said Korea will support and provide expertise for Sri Lanka's key development agenda and has keen interest in Sri Lanka's development road map. as envisioned in the 'Mahinda Chintana'.