Sri Lanka is looking to strengthen its economic ties with China through increased investment, support in debt restructuring, and further collaboration in key sectors, according to Minister of Foreign Affairs Vijitha Herath.
Speaking at an event celebrating the 75th anniversary of the People’s Republic of China in Colombo, Minister Herath highlighted the long-standing economic relations between the two countries, dating back to the historic China-Sri Lanka Rice Pact in 1952.
Key Highlights:
- Bilateral Relations: Sri Lanka and China formalized diplomatic ties in 1957, and China has since played a vital role in Sri Lanka’s development through notable infrastructure investments such as the Colombo Port City and Hambantota Harbour.
- Belt and Road Initiative (BRI): Sri Lanka remains a key partner in China’s Belt and Road Initiative, with continued focus on high-quality cooperation.
- Tourism Rebound: The Minister also noted the uptick in Chinese tourist arrivals, with 94,212 visitors recorded from January to September 2024, positioning China among the top 10 source markets for tourism.
- Future Collaboration: The Chinese Ambassador to Sri Lanka, Qi Zhenhong, reiterated China’s commitment to furthering development through the “Global South” and advancing global security and progress.
The strengthened cooperation between Sri Lanka and China is expected to boost Sri Lanka’s economic recovery and development, particularly in the areas of investment and infrastructure expansion.
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Last modified: September 27, 2024
