Guangxi, China-Sri Lanka Economic and Trade Cooperation Forum in Colombo this week

A 70-member high-profile delegation, led by Peng Qinghua, Secretary of the Communist Party of Guangxi Zhuang Autonomous Region, will arrive in Colombo this week on the invitation of Industry and Commerce Minister Rishad Bathiudeen to attend the Guangxi, China-Sri Lanka Economic and Trade Cooperation Forum. 

The objective of the visit is to actively promote economic and trade cooperation between Sri Lanka and the Guangxi autonomous region of China. The 70-member strong delegation will include senior officials from the Provincial Government, Department of Commerce, Foreign Affairs Office, Commission of Tourism Department, Beibu Gulf Economic Zone and Cooperation and Wuzhou City Council, all from the Guangxi Zhuang Autonomous region and heads of business enterprises.

A powerful group of large enterprises will accompany Qinghua and his team of senior officials, which will be representing the agriculture, automobile, aluminium, construction equipment, development banking, electrical, engineering and construction, property development, tourism, industrial park development and gems and jewellery sectors.

The scheduled forum is a boost to strengthen ties between Sri Lanka and China and can be considered a significant event when the two countries celebrate the 60th anniversary of the establishment of diplomatic relations between them. 

This offers a great opportunity for Sri Lankan enterprises looking to expand their respective businesses through the transfer of new technology as well as the infusion of new capital. 

Simultaneously, the forum offers a great opportunity for visiting Chinese enterprises to obtain a firsthand view of the investment climate in Sri Lanka and also to pursue opportunities for establishing fruitful partnerships with Sri Lankan enterprises through which they can establish enterprises to cater not only to Sri Lanka but also to the Indian subcontinent and Middle Eastern markets, considering its strategic location and developed infrastructure.

Guangxi Zhuang Autonomous Region is situated in China’s southern frontier area, facing Beibuwan Gulf in the south (the total length of the coastline is about 1,500 kilometres) and bordering Vietnam on the southwest. The whole region covers an area of over 236,700 square kilometres with a population of 49.25 million. Its main industries are agriculture, textiles and iron. Its GDP in 2016 was in excess of RMB 1,800 billion.

The forum is being organised by the Provincial People’s Government of Guangxi Zhuang Autonomous Region, China together with the Ministry of Industry and Commerce, Sri Lanka and is being co-organised by the Guangxi Department of Commerce, Department of Commerce of Sri Lanka and the Sri Lanka-China Business Council of the Ceylon Chamber of Commerce.

Commenting on the upcoming forum’s business intent, President of the Sri Lanka-China Business Council Lasantha Wickremesooriya said: “Many Sri Lankan enterprises have shown keen interest to meet the visiting Chinese enterprises and more are expected to register during the week. Forums such as this will help Sri Lankan and Chinese enterprises equally, to meet and pursue investment and trade opportunities for mutual benefit.” 

Along with the Chinese business delegates, about 60 Sri Lankan private business representatives are expected to attend the forum and conduct B2B meetings and network with their Chinese counterparts.