Cooperation between the Chambers of Commerce of Sri Lanka and the Republic of Korea provides an effective framework to further enhance trade and investment ties. MOUs exist between the Ceylon Chamber of Commerce (CCC) and the Korea Chamber of Commerce and Industry (KCCI) and the Busan Chamber of Commerce and Industry (BCCI). Sri Lanka’s Board of Investment (BOI) has an MOU with the Small and Medium Business Corporation (SBC) of Korea. An Agreement between the Sri Lanka Export Development Board (SL EDB) and Korea Imports Association (KOIMA) was signed on 28th March in 2012.