Lanka launchpad for China trade with sub-continent - SL biz delegates in Shanghai

A group of Lankan business leaders visiting China recently urged the Chinese business community to join hands with Sri Lankan private companies, which have the resources as well as experience to identify and launch joint ventures.

They also asked the Chinese counterparts to participate in PPP projects in Sri Lanka and benefit from the proposed Free Trade Agreement (FTA) between Sri Lanka and China which is scheduled to be concluded by early 2017.

“This would open new vistas for Chinese companies to penetrate the Indian and Pakistani markets which have a population of 1.5 billion. Indian and Pakistani companies too would benefit by gaining access to the Chinese market taking advantage of the China-Sri Lanka FTA,” a spokesman for the businessmen said.

Discussions were held during the Second Symposium on the Maritime Silk Road and China-Sri Lanka Relations in Shanghai, China from July 11 to 13.

The symposium was jointly organized by the Shanghai Institutes for International Relations (SIIS) and the Pathfinder Foundation (PF) Sri Lanka and supported by the Chinese Embassy in Colombo.

The symposium consisted of two segments, an academic conference and a business roundtable, thereby providing an overview of the political and economy landscape and prospects for business collaboration available to both sides.

The Chinese companies that expressed their skepticism over the investment prospects in Sri Lanka in November last year during the first symposium, appeared to be more positive of the improving investment climate in Sri Lanka following the visit of Prime Minister Ranil Wickremesinghe to China in April this year.

Among the participating companies from China were Beijing International Trust, Chongqing Foreign Trade and Economic Cooperation, China Harbour Engineering, Chinese Rayong Industrial Park, Pacific Rim Zhengzhou Yutong and SINOMA.

Their presentations revealed the interest of Chinese companies have in Sri Lanka. Deputy Manager China Harbour Engineering said that the suspended Colombo Port City would recommence its work by October. In response to the interest shown to commence an industrial park in Hambantota, the Pathfinder Foundation pointed out that there was a lack of skilled workers to support such a venture in Hambantota and recommended that the Chinese government, in association with the Chinese industry, could help setting up a technical college, similar to the German Technical College in Ratmalana, to address the shortage of technically qualified youth to service the Hambantota Industrial Park.

The Business Round Table was also attended by State Minister Sujeewa Senasinghe, who said that it was an ‘all win’ relationship as both countries look towards mutually benefiting cooperation that will also take into consideration environmental protection.

In addition to the Pathfinder Foundation represented by Bernard Goonetilleke, Prof. Sisira Pinnawala, and Ameera Arooz; several other think tanks and institutions took part in the academic exchange. They included Indian Ocean Maritime Affairs Cooperation (Dr. Hiran Jayewardene), LIRNEasia (Professor Rohan Samarajiva), Institute of Policy Studies (Dr. Saman Kelegama), Bandaranaike International Diplomatic Training Institute (Pamela Deen), and Lakshman Kadirgamar Institute of International Relations (Ravindra Deshapriya).

The symposium commenced its work by inaugurating the China-Sri Lanka Cooperation Studies Center by Prof. Chen Dongxiao, President of the Shanghai Institutes for International Studies and Bernard Goonetilleke, Chairman of the Pathfinder Foundation. The newly established Centre will function as the counterpart of the China-Sri Lanka Cooperation Studies Center, functioning under the Pathfinder Foundation, inaugurated by the Chinese Ambassador in Sri Lanka in October last year.

A Business Roundtable involving private sector representatives of both countries followed the academic discussions. Lawrence Perera, Chairman Micro; Ruan Samarasinghe, Managing Director, Jetwing Hotels; Ravi Karunaratne, Head of Projects, Hayleys Advantis; Krishan Balendra, Chairman, NTB; Nimal Cooke, Executive Director, Maharaja Organization Projects (Pvt.) Ltd; and Dharshana Munasinghe, Director, Business Development of the Access Group highlighted investment potential in Sri Lanka.