China says willing to work with Sri Lanka though facing trade hurdles

Monday, 4 June 2018 00:22 - - {{hitsCtrl.values.hits}}

FILE PHOTO: A general view of "Colombo Port City" construction site in Colombo, Sri Lanka. REUTERS

Reuters: The Chinese Foreign Ministry said on Friday (1 June) that China is willing to continue to keep working with Sri Lanka in all fields, after Sri Lanka’s top negotiator said talks for a free trade agreement between the two countries have hit major hurdles.

Sri Lanka’s chief trade negotiator K. J. Weerasinghe said this week that Colombo was insisting on a right to review the free trade pact after 10 years, but China was not ready to agree that.

China has invested billions of dollars building ports and roads and power stations in the Indian Ocean island nation just off the southern toe of India, as part of its Belt and Road Initiative to increase its trade and other connections across Asia and beyond.

But concerns have grown in recent months that such investments can drive the country of 21 million people deeper into debt and undermine its sovereignty, prompting greater scrutiny of deals with China.