External Affairs Minister Prof G L Peiris and Economic Development Minister Basil Rajapaksa said at the Japan National Press Club in Tokyo that the current situation in Sri Lanka, with the final defeat of terrorism and an unprecedented degree of political stability is conducive to greater economic cooperation between the two countries.

At a widely attended session, they provided national and international media in Tokyo with a detailed account of the present situation in Sri Lanka, the progress which had been made with regard to reconstruction during the last year and the Government's plans for the future. The two Ministers, at a meeting with the Japan-Sri Lanka Business Co-operation Committee presided over by Committee Chairman Sumitaka Fujita, the Ministers explained to Japanese entrepreneurs the special advantages of Sri Lanka at this time, with regard to trade and investment.

Among the factors which they underlined were the geographical location of the country, bilateral trade agreements with India and Pakistan, strong protection under legal and constitutional provisions applicable in Sri Lanka, incentives offered by the Board of Investment and the uniquely high calibre human resources in Sri Lanka.

Ministers Prof. Peiris and Rajapaksa addressed the Japan Platform consisting of representatives of Japanese NGOs operating in Sri Lanka. The Ministers thanked the NGOs for their consistent support and involvement at the most difficult of times. During the question and answer session which followed, practical solutions were found to the issues identified by the NGOs.

They expressed their eagerness to continue engagement on an extended scale, with the achievement of normalcy and tranquility.

On the final day of their official visit to Japan, Ministers Peiris and Rajapaksa had discussions with Japanese Foreign Minister Katsuya Okada and Economy, Trade and Industry Minister Masayuki Naosatme.