Mizuho Bank Ltd. said Monday it has signed a memorandum of understanding for business cooperation with the Board of Investment of Sri Lanka, which promotes investment by foreign corporations in that nation.

Under the agreement, signed Sunday, the two sides will work together in supporting Japanese companies looking to expand in Sri Lanka.

They will hold joint investment seminars, organize visits to the two countries and provide support for Japanese companies on bureaucratic procedures for setting up in Sri Lanka.

This move came on the sidelines of the Japanese Prime Minister's one day visit to Sri Lanka.