China pledges to help Sri Lanka address debt crisis

Friday, 18 August 2023 00:28 - - {{hitsCtrl.values.hits}}

China’s Foreign Minister

Wang Yi and Prime Minister Dinesh Gunawardena

China on Wednesday vowed it will help Sri Lanka effectively address the challenges of financial debt.

The assurance was conveyed by China’s Foreign Minister Wang Yi to Prime Minister Dinesh Gunawardena who is on a visit to China’s Yunnan Province.

Yi is Director of the Office of the Foreign Affairs Commission of the Communist Party of China (CPC) Central Committee.

During their meeting on the sidelines of the seventh China-South Asian Expo in Kunming, southwest China’s Yunnan Province, Yi said China is always Sri Lanka’s reliable strategic partner and appreciates that Sri Lanka has always been friendly to China and has stood by China on issues related to its core interests.

China also firmly supports Sri Lanka in safeguarding its sovereign independence and national dignity, and is willing to strengthen exchanges of experience in governance as well as cooperation in various fields with Sri Lanka, he said.

Yi vowed that China will help Sri Lanka improve its capacity for independent development, get rid of the “poverty trap” and the “trap of non-development,” accelerate its industrialisation process and agricultural modernisation.

He expressed belief that Sri Lanka will overcome its temporary difficulties, find a development path in line with its national conditions, and realise revitalisation and prosperity.

Noting that Sri Lanka is an important participant and beneficiary of the China-South Asia Expo, he welcomed the Sri Lankan side to continue to make good use of this important platform to further explore the Chinese market.

For his part, Gunawardena thanked China for its firm support for Sri Lanka in safeguarding its independence, sovereignty and territorial integrity, and for its timely and effective assistance to Sri Lanka in times of difficulty.

The forward-looking flagship cooperation projects between the two sides such as the Colombo Port City and the Hambantota Port will bring benefits to the Sri Lankan people and play a key role in regional connectivity and sustainable development, he said.

Sri Lanka will work with China to expand cooperation in economy, trade and investment, agriculture, tourism, energy and innovation to help Sri Lanka achieve food self-sufficiency and accelerate the development of key industries, he added.