China’s Focus on Extending Economic Corridor to Sri Lanka: Strengthening Ties and Trade Initiatives

China’s Focus on Extending Economic Corridor to Sri Lanka: Strengthening Ties and Trade Initiatives

The extension of the China-Myanmar Economic Corridor to Sri Lanka takes precedence in China’s plans, as conveyed by Chinese President’s Special Envoy, State Councillor Shen Yiqin, during her meeting with Sri Lankan President Ranil Wickremesinghe in Colombo on Monday (20).

President Wickremesinghe emphasized the readiness of Belt & Road initiative participant countries, like Sri Lanka, to enter the second phase, aiming for a more substantial economic impact. Sri Lanka’s steps to access the Regional Comprehensive Economic Partnership (RCEP) were highlighted, emphasizing the commitment to maintain the Indian Ocean as a geopolitically neutral and peaceful navigation zone, as stated by the President’s Media Division.

The meeting underscored the mutual agreement to expedite the implementation of the China-Sri Lanka Free Trade Agreement, as reported by the President’s Media Division in an official statement.

Shen Yiqin reiterated China’s enduring support for Sri Lanka and emphasized her dedication to bolstering the ties between both nations. The courtesy call between the Special Envoy of the Chinese President, State Councillor Shen Yiqin, and President Ranil Wickremesinghe primarily aimed to strengthen tourism and trade relations between the two countries.

President Wickremesinghe expressed gratitude for China’s support, particularly acknowledging their assistance in Sri Lanka’s debt restructuring program. He extended sincere thanks to the Chinese President and government for their invaluable support in this endeavor.

Furthermore, President Wickremesinghe highlighted Sri Lanka‘s interest in enhancing collaboration with China in tourism, sports, and agriculture. He also emphasized the investment readiness of both the Hambantota Port and Port City, signaling opportunities for potential investors, as per the President’s Media Division.

Source: President’s Media Division