China in 3-day talks with Sri Lanka on economic cooperation

Monday, 24 February 2014 00:02 - - {{hitsCtrl.values.hits}}

Reuters: Chinese officials began three days of talks on economic cooperation with Sri Lanka on Saturday, as Beijing strengthens relations with the Indian Ocean island that is a focal point for its regional rivalry with India. “This visit will give an added impetus to opportunities accruing to Sri Lanka in the context of promoting the country as a regional ‘commercial hub,’” Sri Lanka’s External Affairs Ministry said in a statement.

China has increased its investments in Sri Lanka, funding airports, roads, railways and ports, something that has unsettled India, traditionally the closest economic partner of the island of 21 million people. The Chinese delegation visit comes after Foreign Minister G.L. Peiris, on a trip to China this month, said a feasibility study on a free trade pact “is on the verge of completion” and the deal could be sealed by the end of the year. Sri Lanka won China’s diplomatic support in a human right row this month when Beijing voiced support for Colombo after the United States said it would table a UN resolution over human rights on the island. Among the issues to be discussed in the 22-25 February talks is a bilateral maritime cooperation deal, dubbed a ‘21st century Maritime Silk Road,’ that would cover issues such as fisheries, technology and environmental protection.

Sri Lanka to support China’s initiative of a 21st century Maritime Silk Route

Sri Lanka says it will support China’s initiative to establish a 21st century Maritime Silk Route that aims for a comprehensive economic cooperation with the countries of the ancient route. The External Affairs Ministry of Sri Lanka Friday said a Chinese delegation led by the Director General of China’s Department of the National Development and Reforms Commission will be visiting the island from 22nd to 25th February, to further discuss the broad parameters of bilateral economic cooperation. The Chinese delegation’s visit closely follows the visit undertaken by the External Affairs Minister Professor G.L. Peiris to Beijing from 10-13 February. During Sri Lankan Minister’s visit both sides have discussed the establishment of a 21st Century Maritime Silk Route Economic Belt with the aim of integrating countries in the maritime silk route for comprehensive economic cooperation to enable common growth and prosperity. The Chinese delegation’s visit will give an added impetus to opportunities accruing to Sri Lanka in the context of promoting the country as a regional “commercial hub”, the Ministry said in a statement. Professor Peiris, in expressing support for this concept, has noted that the new initiative would be a catalyst in giving practical orientation to the “Strategic Co-operative Partnership” adopted by the leaders during President Mahinda Rajapaksa’s State visit to China, in May last year. According to the Ministry of External Affairs, the Chinese dignitaries in their discussions with the Minister in Beijing, have reiterated the need to give consideration to each other’s own national development strategy, while advancing practical cooperation, deepening the integration of interests and strengthening support for each other. The Ministry said the two countries are giving priority to fast tracking the proposed Free Trade Agreement between Sri Lanka and China. The feasibility survey is on the verge of completion, and the rest of the process is to be expedited, the Ministry statement added.