Increased Chinese investments in Sri Lanka

Chinese Vice-Minister of Commerce Cheng Jiao has informed Economic Development Minister Basil Rajapaksa that China is ready for large and medium scale investments in Sri Lanka with Beijing’s sponsorship.

Vice Minister Jiao who met Minister Basil Rajapaksa during a recent tour of Sri Lanka, said China’s attention has been drawn to the need for reducing the trade gap between the two countries in order to further strengthen ties. While recalling long years of trade relations between the two countries the Chinese Vice-Minister also noted expansion and improvement of the island’s road network and transport facilities. He lauded Sri Lanka’s high development achievements within four years following the defeat of LTTE terrorism.

Minister Basil Rajapaksa expressed on behalf of the government and the people his gratitude to China’s uninterrupted contributions to Sri Lanka’s development. Saying that Sri Lanka-China bilateral relations were on a high level, he assured that President Rajapaksa and his government were working towards building closer ties.

Economic Development Minister Rajapaksa said that today Sri Lanka has been categorised as a middle-income country thanks to the progress achieved so far through the Divi Neguma National programme in raising the living standards of the masses. It has provided the people with the opportunity of participating in National development directly and indirectly at both village and provincial levels, according to him.

Director-General of the Economic and Investment Department of China’s Commerce Ministry Wang Shengyang, the Department’s Deputy Director-General Liyang Wento, Sri Lanka’s Industry and Commerce Ministry Secretary Anura Siriwardene and Sri Lanka’s Ambassador in China, Ranjit Uyangoda were among those who attended the meeting. They included a high-level Chinese business delegation.