Financial Times

Korean delegation to look at local imports
Visiting 14 member delegation of the Korean Importers' Association (KOIMA) will arrive in Sri Lanka for the first time on April 6, to look at imports for Korea's tenth largest market.

Lim Jae-hong, Ambassador for Korea in Sri Lanka said the visit by the Korean Importers' Association would be a good opportunity for local companies to look at exporting Sri Lankan products to Korea, a release issued by the Korean embassy in Sri Lanka said.

KOIMA delegation headed by the current chairman Kwon Soon-Han will hold business discussions with the Sri Lanka Korea Economic Corporation Committee in association with the Ceylon Chamber of Commerce, the Sri Lanka Export Development Board (EDB) and the Board of Investment of Sri Lanka (BOI) along with local exporters and traders at the Colombo Hilton on April 7.

The delegation's import interests include agricultural products, marine products, mushrooms, granite, non-woven (50g/Sq.Mt), handicrafts, leather garments and goods, cosmetics, jewellery, building materials, aluminium foil in rolls, cowhide and buffalo leather for automotive upholstery, home sofas, small interior decorations, dining tables and chairs, rice, coffee bran, molasses, black pepper, artemia (Shrimp Egg), raw material for feed, subsidiary feed, frozen vegetables, fishery and herbs, petrochemical products, lubricant additives, fine chemical, commercial and industrial reverse osmosis systems, tea, tobacco and rubber.

While Korea is positioned as the eighth largest exporter to Sri Lanka, total imports from Korea amounted to USD 210 million last year. Sri Lanka's main imports from Korea included raw materials for the popular export garment manufacturing industry such as fabric, yarn and accessories, plastic raw material, industrial machinery, rubber chemicals, household electrical and electronic appliances, paper and paper products, vehicles and spare parts and mobile phones are some of the other major imports from Korea.

Sri Lankan exports to Korea have shown positive signs during the last three years and many companies continue to seek entry to this market for bulk and floured tea, coconut based products, fishery products, agricultural products and IT related system integration services and software.

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