China’s Commerce Minister to visit SL in big boost to ties

• Will lead 115-member business delegation to Sri Lanka and participate in top-level trade and investment forum on 30 May
• Representatives from 77 Chinese companies to engage with potential Sri Lankan business and investment partners

People’s Republic of China Commerce Minister Wang Wentao

In a major boost to bilateral ties, China’s Commerce Minister Wang Wentao will visit Sri Lanka in a fortnight, leading a delegation of 115 business representatives from 77 companies.

He will attend a high-level Sri Lanka-China Trade and Investment Forum on 30 May in Colombo, hosted by The Ceylon Chamber of Commerce and the Department of Commerce of Sri Lanka, together with the Sri Lanka – China Business Council of The Ceylon Chamber, and the China Chamber of Commerce for Import and Export of Machinery and Electronic Products.

The visiting Chinese business delegation will be keen to engage with potential Sri Lankan business and investment partners. 

The Forum will offer an exceptional platform to strengthen bilateral commercial ties, facilitate business matchmaking, and identify new trade and investment avenues in a diverse range of sectors. 

The visiting delegates will represent four major chambers in China: the China Chamber of Commerce for Import and Export of Machinery and Electronic Products, the China Chamber of Commerce of Import and Export of Foodstuffs, Native Produce and Animal By-Products (CFNA), the China International Chamber of Commerce for the Private Sector (CICCPS), and the China Chamber of Commerce for Import and Export of Textiles. 

The delegation has expressed interest in imports from Sri Lanka, including black tea, spices such as nutmeg and cloves, seafood including crab, fruits like papaya, pineapple, guava, and mango, as well as other food and agricultural products. In terms of exports to Sri Lanka, Chinese businesses are looking to introduce garlic, cumin seeds, fennel seeds, various agricultural products, nuts, potatoes, vegetable items, textiles, and home textile products into the Sri Lankan market. 

The services sector will also be a key focus, with potential collaboration in areas such as water treatment, clean energy, environmental protection technologies, engineering, and construction. In addition, investment discussions are expected to focus on the automotive industry chain and tea plantation and tea enterprise development.

In the joint statement following President Anura Kumara Disanayake’s State visit to Beijing in January this year, Sri Lanka expressed appreciation to China for its effort to promote imports from Sri Lanka through various means. 

China expressed its readiness to continue supporting Sri Lankan enterprises in tea, gem, and other industries in establishing ties with relevant Chinese associations of importers and exporters, facilitate Sri Lanka’s participation in expos such as the China International Import Expo, China Import and Export Fair, China-South Asia Exposition, and e-commerce platforms, and further enhance cooperation between enterprises of the two countries on the basis of mutual benefit and win-win outcomes. The two sides agreed to work towards the early conclusion of a comprehensive free trade agreement in one package, in line with the principles of equality, mutual benefit, and win-win outcomes.

Sri Lanka welcomed more business investment from China and will provide a conducive investment and business environment for this purpose. China will continue to encourage Chinese enterprises in investing in Sri Lanka to facilitate economic transformation and sustainable development in Sri Lanka. The two sides agreed to expand cooperation in such fields as logistics, green development, and digital economy to propel their high-quality and mutually beneficial practical cooperation.

The two sides shared positive evaluations of their wide-ranging cooperation and in-depth exchanges on agriculture. China conveyed its readiness to carry out training and demonstration programs with Sri Lanka in areas including bio-technologies for tropical crops, plant breeding and cultivation, and aquaculture to help Sri Lanka enhance its capacity for sustainable agricultural development, and welcome Sri Lanka to further expand its export of distinctive products to China, including tea, fruits, cinnamon, and aquatic products. The two sides shared the readiness to expand exchanges and cooperation, with a sharper focus on poverty reduction and rural revitalisation. China expressed its readiness to help Sri Lanka strengthen the capacity of personnel in related fields.

Sri Lanka’s exports to China amounted to $ 261.06 million in 2024 according to the United Nations Comtrade database on international trade. Exports were mainly tea and spices, apparel, chemical products, fish, and seafood. Sri Lanka’s imports from China in 2024 amounted to $ 4.28 billion, with electrical and electronic products being a major import category. Key exports from China to Sri Lanka include light rubberised knitted fabrics, broadcasting equipment, and synthetic filament yarn woven fabrics.