PM to sign MoU with China during his visit next week

In the wake of signing a Memorandum of Understanding (MoU) with India, the Government is hoping to sign a similar agreement with China during Prime Minister Ranil Wickremesinghe’s visit to that country.

The Cabinet yesterday endorsed the MoU to be signed with China on cooperation in the fields of urban development, transportation, power and energy and road development though no specific project is outlined in the agreement.

The Prime Minister will leave for China soon after Vesak to attend the ‘One Belt, One Route’ summit to be conducted in Beijing. He is expected to meet Chinese leaders including President Xi Jinping on the sidelines of the summit.

During a visit to New Delhi, the Prime Minister signed a MoU with India for the implementation of several projects including the Trincomalee Oil Tank Farm on the basis of a joint venture.

The Cabinet also discussed a modified version of the agreement to be signed with China Merchants Ports Holding Company Ltd., to develop the Hambantota Port as a joint venture. President Maithripala Sirisena was entrusted with the responsibility of making the final decision on this agreement.(Kelum Bandara)