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| Sunday, 17 August 2003 |
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PM's visit boosts Sino-Lanka economic links Prime Minister Ranil Wickremesinghe's visit to the People's Republic of China from August 9 to 13 has boosted trade links between the two nations, with China tipped to become Sri Lanka's biggest trading partner in under a decade. Prime Minister Wickremesinghe, in an address to the Chinese business community, invited them to invest in the island, the gateway to the huge subcontinent market. "With rapidly growing opportunities for trade between China, India and the rest of the countries in the South Asian region, our ability to serve effectively as the gateway will be a major asset for business in China," he told the gathering of Chinese business leaders in Beijing. The Prime Minister explained that the peaceful atmosphere prevailing in Sri Lanka will be advantageous for foreign investors and assured the Government's fullest cooperation and assistance to the investors. He said they, as hardened and successful business people, can seize the opportunities Sri Lanka offers. "Sri Lanka is a vibrant hub which offers unique investment and business opportunities," he added. The top management of five leading Chinese commercial institutions have already expressed their willingness to invest in Sri Lanka. China will be Sri Lanka's biggest business partner within the next 10 years, Chinese business giants who participated in a round of informal discussions with the Prime Minister said. A major highlight of his visit was the signing of several business-oriented agreements with China, which has reported an economic growth rate of eight per cent GDP during the previous year and 8.3 per cent so far during this year despite the SARS outbreak. Both countries eventually hope to sign a free trade pact, on the lines of the Indo-Lanka Free Trade Agreement. Premier Wickremesinghe also visited several economic centres in the city of Xiamen. He said that Xiamen had been the door to the open economy and development of China and expressed his willingness to get their expertise to develop Sri Lanka's economy. A tourism seminar organised by the Sri Lanka Tourist Board was also held during the Premier's visit at the 'Kerry Centre' in Beijing to showcase Sri Lanka as a tourist destination. A senior Tourist Board official said the event was organised to tap the potential Chinese outbound market. The Chinese government has also agreed to provide Sri Lanka a grant of Rs 400 million for the development of the economy and technological spheres of Sri Lanka. Chinese Premier Wen Jiabao has showed his willingness to assist Sri Lanka in developing the telecommunication and tourism sectors. The Chinese government has pledged its fullest support to develop and restructure Sri Lanka's agricultural sector. |
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