Latest news with #China-SriLanka
The Star
13-07-2025
- Business
- The Star
China willing to promote strategic cooperative partnership with Sri Lanka: Chinese FM
Chinese Foreign Minister Wang Yi, also a member of the Political Bureau of the Communist Party of China Central Committee, meets with Sri Lankan Minister of Foreign Affairs Vijitha Herath in Kuala Lumpur, Malaysia, July 12, 2025. - Xinhua KUALA LUMPUR: China is willing to work with Sri Lanka to promote a strategic cooperative partnership based on sincere mutual assistance and a lasting friendship, Chinese Foreign Minister Wang Yi said here on Saturday (July 12) when meeting his Sri Lankan counterpart Vijitha Herath. Wang, also a member of the Political Bureau of the Communist Party of China Central Committee, said that China and Sri Lanka have a traditional friendship. The two heads of state held fruitful talks and reached an important consensus on deepening the bilateral strategic cooperative partnership and jointly building a China-Sri Lanka community with a shared future, which pointed out the direction and provided guidance for the development of bilateral relations. Wang pointed out that China is a reliable partner of Sri Lanka, and the two sides should deepen high-quality Belt and Road cooperation and practical cooperation in various fields. The two sides should work together to effectively implement the two flagship projects of the Colombo Port City and the Hambantota Port, accelerate negotiations for China-Sri Lanka Free Trade Agreement and create new growths for cooperation in such areas as green energy, digital economy, modern agriculture and marine economy, Wang said. He pointed out that China-Sri Lanka maritime cooperation is mutually beneficial, not aimed at third parties, and should not be interfered by third parties. China is willing to strengthen coordination with Sri Lanka in such platforms as the Asean Regional Forum to jointly maintain stability and development in the region, he noted, adding the so-called "Indo-Pacific Strategy" provokes bloc confrontation and coerces parties to take sides, which is not in line with the trend of the time and will not receive support from regional countries. Herath, for his part, said that Sri Lanka attaches great importance to its relations with China and firmly adheres to the one-China principle. Sri Lanka thanks China for its firm support for Sri Lanka in safeguarding its independence, sovereignty and territorial integrity, and for its timely assistance during difficulties. Sri Lanka-China cooperation has brought great benefits to the Sri Lankan people and has effectively promoted the overall development and connectivity of the region, said Herath, adding that Sri Lanka is willing to work with China to implement the consensus reached by the two heads of state, strengthen practical cooperation in various fields, including the economy, trade, investment, infrastructure and maritime affairs, and further deepen the strategic cooperative partnership. - Xinhua
The Hindu
09-06-2025
- Business
- The Hindu
Sri Lanka, China ink MoUs to boost trade partnership
Sri Lanka and China have signed two Memoranda of Understanding to set up a working group on trade facilitation, and on industrial and supply chain cooperation, the Chinese Embassy in Colombo said. 'China and Sri Lanka have taken steps to deepen economic and trade cooperation, signing key agreements and exploring additional investment opportunities during the eighth meeting of the China-Sri Lanka Joint Trade and Economic Commission held on May 29th in Colombo,' the Embassy said on social media platform 'X' on Sunday. The meeting was jointly chaired by China's Commerce Minister Wang Wentao and Sri Lankan Minister of Trade, Commerce, Food Security and Co-operative Development Wasantha Samarasinghe. 'Both sides exchanged in-depth views on advancing high-quality Belt and Road Initiative cooperation, expanding trade and investment, and safeguarding the multilateral trading system,' the Chinese Embassy's post said. Minister Wang also met President Dissanayake during his visit. According a statement issued by the President's office, Minister Wang noted that considering 'the current political and economic stability in Sri Lanka, along with the clear policy direction' of the Dissanayake administration, 'there has been a notable rise in interest from Chinese investors looking to invest in the country.' 'We discussed enhancing our trade relations and expediting development projects in Sri Lanka. Exciting times ahead with increased interest from Chinese investors,' Mr. Dissanayake said on social platform 'X' following the meeting. The bilateral initiatives take off from deliberations held during President Anura Kumara Dissanayake's visit to China in January this year, soon after he visited India in December 2024, making New Delhi his first stop abroad after assuming office in September 2024. A joint statement issued on Mr. Dissanayake's China visit said the two sides agreed to work on the 'early conclusion of a comprehensive free trade agreement.' Speaking at an investors' forum in Colombo during his visit Mr. Wang, according to local publication Economynext, said: 'It is hoped that the two sides continue to work toward the conclusion of a comprehensive free trade agreement in one package, in line with the principles of equality, mutual benefit.' New Delhi and Beijing are keen to cultivate close ties with the leftist Sri Lankan leader, who has repeatedly emphasised a non-aligned foreign policy that would prioritise Sri Lanka's interests. India and sections within Sri Lanka have been highlighting the need to resume bilateral talks on Economic and Technological Cooperation Agreement (ETCA) — stalled at different points — especially in the context of U.S. President Donald Trump's decision to slap tariffs on trade partners. During Prime Minister Narendra Modi's visit to Sri Lanka in April 2025, the two sides inked seven MoUs, including one on defence cooperation. Last month, Sri Lanka's Cabinet approved a proposal for a Memorandum of Understanding (MoU) between China's Chongqing Transmission Corporation Limited and the state-run Rupavahini Corporation to 'promote mutual understanding, strengthen cooperation, and exchange training opportunities in the field of media'.
Time of India
25-05-2025
- Business
- Time of India
China woos Sri Lanka with FTA and business deals
New Delhi: China and Sri Lanka are exploring a free trade agreement (FTA) as Beijing continues to strengthen economic and military ties with India's neighbours. A high-level Chinese delegation led by its commerce minister Wang Wentao will attend the Sri Lanka-China Trade and Investment Forum in Colombo on May 30, according to persons familiar with the development. The 115-member business delegation representing 77 Chinese companies will engage with potential Sri Lankan business and investment partners at the forum hosted by The Ceylon Chamber of Commerce and Sri Lankan commerce department. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Sibu: New Two Bed Senior Apartments Are Stunning! (Take A Look) Senior Living | Search Ads Search Now Undo The forum will offer 'a platform to strengthen bilateral commercial ties, facilitate business matchmaking, and identify new trade and investment avenues, in a diverse range of sectors,' the chamber said. Apart from discussing the China-Sri Lanka FTA, the countries are expected to sign two memoranda of understanding (MoUs) – for establishing a working group on promoting trade, and strengthening economic cooperation in industrial and supply chains, according to Colombo-based sources. Live Events The development comes at a time when the international community is monitoring the China-Pakistan military axis after Beijing provided military and economic support to Islamabad during the recent India-Pakistan conflict. Chinese delegates visiting Sri Lanka will represent four major chambers representing various industries including textiles, machinery, electronic products, food stuff, native produce and animal by-product, sources cited above said. Wang would co-chair the eighth session of the China-Sri Lanka Joint Committee on Economic and Trade Cooperation with his counterpart Wasantha Samarasinghe, it has been learnt. Following up on the discussions held during the seventh session in 2021, both sides would review MoUs on (i) formulation of rules and regulations on Hambantota Free Port Act, (ii) strengthening investment cooperation in the digital economy, and (iii) promoting investment cooperation in green development. The Sri Lankan foreign ministry has expressed apprehensions on the MoU on the digital economy because it encourages exchanges and cooperation at the local level that needs careful consideration due to constitutional limitations, sources said on the condition of anonymity. Moreover, the MoU warrants broader stakeholder consultations in view of the sensitivity of the subject. The Chinese delegation will also participate in the inaugural meeting of the China-Sri Lanka Working Group on Investment and Economic Cooperation, set up in accordance with an MoU signed during President Anura Kumara Dissanayake's visit to China in January. The highlight of the visit was Sinopec agreeing to invest $3.7 billion to construct a 'state-of-the-art oil refinery' with a capacity of 200,000 barrels in the southern Hambantota region. It is relevant to mention that in Dec 2017, China secured the strategic Hambantota port in the Indian Ocean on a 99-year lease as a debt swap. China has also secured a long-term lease to build an economic zone at Hambantota. Incidentally, Dissanayake was a critic of the Hambantota port deal for its long-term lease while he was in the opposition.
Economic Times
25-05-2025
- Business
- Economic Times
China woos Sri Lanka with FTA and business deals
China and Sri Lanka are discussing a free trade agreement. A Chinese delegation will attend a trade and investment forum in Colombo. They will explore strengthening economic cooperation. Memoranda of understanding are expected to be signed. These will cover trade promotion and industrial supply chains. The Hambantota port deal is also under review. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads New Delhi: China and Sri Lanka are exploring a free trade agreement (FTA) as Beijing continues to strengthen economic and military ties with India's neighbours.A high-level Chinese delegation led by its commerce minister Wang Wentao will attend the Sri Lanka-China Trade and Investment Forum in Colombo on May 30, according to persons familiar with the 115-member business delegation representing 77 Chinese companies will engage with potential Sri Lankan business and investment partners at the forum hosted by The Ceylon Chamber of Commerce and Sri Lankan commerce forum will offer 'a platform to strengthen bilateral commercial ties, facilitate business matchmaking, and identify new trade and investment avenues, in a diverse range of sectors,' the chamber from discussing the China-Sri Lanka FTA, the countries are expected to sign two memoranda of understanding (MoUs) – for establishing a working group on promoting trade, and strengthening economic cooperation in industrial and supply chains, according to Colombo-based development comes at a time when the international community is monitoring the China-Pakistan military axis after Beijing provided military and economic support to Islamabad during the recent India-Pakistan delegates visiting Sri Lanka will represent four major chambers representing various industries including textiles, machinery, electronic products, food stuff, native produce and animal by-product, sources cited above would co-chair the eighth session of the China-Sri Lanka Joint Committee on Economic and Trade Cooperation with his counterpart Wasantha Samarasinghe, it has been up on the discussions held during the seventh session in 2021, both sides would review MoUs on (i) formulation of rules and regulations on Hambantota Free Port Act, (ii) strengthening investment cooperation in the digital economy, and (iii) promoting investment cooperation in green Sri Lankan foreign ministry has expressed apprehensions on the MoU on the digital economy because it encourages exchanges and cooperation at the local level that needs careful consideration due to constitutional limitations, sources said on the condition of anonymity. Moreover, the MoU warrants broader stakeholder consultations in view of the sensitivity of the Chinese delegation will also participate in the inaugural meeting of the China-Sri Lanka Working Group on Investment and Economic Cooperation, set up in accordance with an MoU signed during President Anura Kumara Dissanayake's visit to China in highlight of the visit was Sinopec agreeing to invest $3.7 billion to construct a 'state-of-the-art oil refinery' with a capacity of 200,000 barrels in the southern Hambantota is relevant to mention that in Dec 2017, China secured the strategic Hambantota port in the Indian Ocean on a 99-year lease as a debt swap. China has also secured a long-term lease to build an economic zone at Hambantota. Incidentally, Dissanayake was a critic of the Hambantota port deal for its long-term lease while he was in the opposition.
