The National Times - Sri Lanka Invites Korean Businesses to 2027 Colombo Expo for Trade Partnerships

Sri Lanka is actively seeking to strengthen economic ties with South Korea by inviting Korean buyers and machinery suppliers to the upcoming Sri Lanka Expo 2027 in Colombo. Scheduled for January, the exhibition aims to facilitate lasting commercial partnerships through an investment forum and targeted business meetings, addressing current barriers to bilateral trade.

The expo will take place from Jan. 14-17 at the Bandaranaike Memorial International Conference Hall in the Sri Lankan capital. Organized by the Sri Lanka Export Development Board, the event expects approximately 750 exhibitors and 1,500 international participants, including buyers, investors, and media representatives.

"Our objective is to facilitate lasting commercial partnerships, rather than simply attract visitors to an exhibition," said Marimuthu Karpaya Pathmanaathan, Sri Lanka’s ambassador to Korea, in an interview with The Korea Herald on Wednesday. He encouraged Korean companies to supply machinery, automation systems, and renewable energy equipment to Sri Lankan businesses. Additionally, he identified information technology, logistics, tourism, and healthcare as potential areas for Korean business expansion.

Bilateral trade between the two nations totaled $343 million in 2025, with South Korean exports reaching $234 million and imports amounting to $109 million, according to the Korea International Trade Association. Approximately 20 Korean companies currently operate in Sri Lanka. The Korea Trade-Investment Promotion Agency notes that Korean products are regarded as premium goods and advises targeting middle- and higher-income consumers. Interest in K-pop and Korean dramas is also improving perceptions of Korean products among Sri Lankans.

Despite these positive indicators, Pathmanaathan identified limited knowledge of each other’s markets, insufficient contact between companies, differences in business practices, and Sri Lanka’s recent economic crisis as factors restricting bilateral trade and investment. He acknowledged that while Sri Lanka has made progress in economic recovery, it still needs to improve governance, simplify regulatory procedures, and maintain consistent policies.

"Sri Lanka has made progress, but continued reforms and reliable commercial partnerships are essential to building lasting investor confidence," he added.

The Sri Lankan Embassy in Seoul aims to help Korean participants find suppliers and business partners before the exhibition and follow up on discussions afterward. "Our priority is to facilitate targeted introductions based on actual business requirements," Pathmanaathan said, noting that eligible international buyers may receive discounted travel and accommodation, airport transfers, and shuttle services, subject to conditions.

Regarding regional trade advantages, Pathmanaathan cited Sri Lanka’s ports along major Indian Ocean shipping routes. Both countries participate in the Asia-Pacific Trade Agreement, which provides preferential tariffs on eligible goods. However, eligibility depends on the product, rules of origin, and customs documentation. Access to other South Asian markets requires separate checks under relevant agreements.

"We encourage Korean companies to assess product-specific tariff benefits before making commercial decisions," the ambassador advised. Sri Lanka is currently pursuing membership in the Regional Comprehensive Economic Partnership, which includes Korea, but does not yet receive tariff benefits under that agreement.

Pathmanaathan cautioned that while the Export Development Board reviews exhibitor applications, participation does not guarantee a company’s financial strength, production capacity, or compliance with Korean regulations. He advised Korean buyers to independently verify suppliers’ registration, export record, references, and certifications, adding that products sold in Korea must meet applicable safety, labeling, and technical requirements.

The ambassador explained that the embassy can refer businesses to institutions handling commercial disputes, while legal advice and formal proceedings require relevant professionals or courts. "We encourage companies to undertake due diligence and establish clear contractual terms from the outset," he concluded.

P.Barry--TNT