China presents roadmap to deepen economic cooperation with Sri Lanka

• Chinese Commerce Minister Wang Wentao highlights China–Sri Lanka friendship from ancient Silk Route to Belt and Road ties at ‘Sri Lanka-China Trade and Investment Forum 2025’ in Colombo
• Proposes three key focus areas—expanding trade, deepening investments, defending multilateralism
• Urges greater use of trade fairs and joint programs to boost Sri Lankan exports to China Encourages Chinese investment in green, digital and low-carbon sectors
• Backs creation of industrial and supply chain zones in Sri Lanka
• Warns against global protectionism; promotes China as stable and open trade partner
• Cites 2024 bilateral trade hits $ 5.36 b, with 13.4% YoY growth, highest for China in South Asia

Chinese Commerce Minister Wang Wentao

By Charumini de Silva

Chinese Commerce Minister Wang Wentao yesterday presented a roadmap to deepen bilateral trade, investment and economic cooperation.

Delivering the keynote address at the ‘Sri Lanka-China Trade and Investment Forum 2025’, his address outlined the long-standing diplomatic relations, rapidly expanding economic ties and a future shaped by shared development goals.

Accompanied by a delegation of 115 Chinese representing 77 companies, Minister Wentao’s visit marks the largest business mission from China to Sri Lanka in recent years, heralding renewed commitment to encourage deeper economic engagement under the Belt and Road Initiative (BRI).

He also highlighted the enduring historical relationship between Sri Lanka and China, rooted in centuries-old silk routes and strengthened in decades by major diplomatic and economic milestones.  “China and Sri Lanka enjoy a millennium-long friendship. Our modern cooperation, from the historic Rice-Rubber Pact to today’s BRI projects, is built on sincerity, mutual assistance and shared prosperity,” he said.

The Chinese Commerce Minister outlined three key proposals to guide future economic collaboration, which include; 1) Expand trade and economic cooperation, 2) Deepen industrial and investment linkages and 3) Defend multilateralism and economic openness. He opined that reactivating and strengthening institutional mechanisms such as China-Sri Lanka Joint Committee for Economic and Trade Cooperation, promoting broader participation in trade fairs like China International Import and Export and Consumer Products Expo and supporting Sri Lanka in boosting exports to China via joint research initiatives and targeted development programs are essential under the first proposal to expand trade and economic cooperation.

In addition, he noted that encouraging more Chinese companies to invest in green, low-carbon and digital industries as well as supporting development of industrial and supply chain cooperation zones in Sri Lanka are vital under his second proposal.

In terms of defending multilateralism and economic openness, Wentao suggested countering growing global uncertainty and protectionism by defending the multilateral trading system and international rules-based order and positioning China as a partner that offered stability, certainty and reliability in global trade and investment are essential.

“At a time when the global economy faces many uncertainties, China remains a dependable partner committed to openness, fairness and mutual development,” Wentao said. 

He cited an impressive 13.4% year-on-year (YoY) increase in bilateral trade in 2024, which reached $ 5.36 billion—the highest between China and any South Asian country.

He said Sri Lankan exports such as gems, spices and tea are increasingly popular among Chinese consumers.

China’s investment in Sri Lanka continues to grow, extending from traditional infrastructure to high-value-added sectors such as pharmaceuticals, furniture, and electronics. Notable BRI-linked projects, including the Port City Colombo and the Hambantota Port, were cited as examples of how Chinese partnerships are driving local economic development and employment.

China has also contributed technical and humanitarian assistance in education, healthcare, and disaster relief, further deepening its support for Sri Lanka’s human capital development.

The Chinese Commerce Minister was hopeful that following the forum, participating businesses from both countries will engage in one-on-one meetings to explore joint ventures and commercial partnerships.

Wentao expressed confidence that this forum would lead to tangible results, boosting trade volumes and joint ventures in potential sectors.

He also extended appreciation to the Trade Ministry of Sri Lanka, Department of Commerce and local business council for organising the Forum and facilitating business matchmaking.

“I encourage our business community to use this platform fully, to discover cooperation opportunities and to contribute to the sustainable development of our economic relationship,” Wentao said. 

 Pix by Upul Abayasekara