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SL says ready for BRI second phase; China keen on extending CMEC

21 November 2023 08:03 am - 13     - {{hitsCtrl.values.hits}}

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President Ranil Wickremesinghe with special envoy of Chinese president, State Councillor Shen Yiqin

 

  • President Wickremesinghe expresses SL’s readiness for second phase of BRI during a meeting with Chinese special envoy Shen Yiqin
  • China expresses interest in extending China-Myanmar Economic Corridor to include Sri Lanka
  • Both parties agree to expedite implementation of China-Sri Lanka Free Trade Agreement
  • President Wickremesinghe expresses gratitude for China’s support, particularly in SL’s debt restructuring programme


COLOMBO (Daily Mirror) - Sri Lanka has conveyed its preparedness for the second phase of the Belt and Road Initiative (BRI), with China expressing a keen interest in extending the China-Myanmar Economic Corridor (CMEC) to include Sri Lanka.

This was revealed when the special envoy of the Chinese president, State Councillor Shen Yiqin, made a courtesy call on Sri Lankan President Ranil Wickremesinghe yesterday in Colombo.

According to a communique issued by the President’s Media Division, Wickremesinghe has said that “countries such as Sri Lanka, participants in the BRI, are prepared to embark on the second phase of the initiative, which is expected to make a more substantial economic contribution”.

Wickremesinghe also expressed Sri Lanka’s desire to augment cooperation between the two countries in the fields of tourism, sports and agriculture. He highlighted that both the Hambantota Port and Port City are currently prepared for investment opportunities.

During the meeting, he detailed the steps taken by Sri Lanka to join the Regional Comprehensive Economic Partnership and reaffirmed the country’s commitment to maintaining the Indian Ocean as a freely navigable and peaceful region, free from global geopolitical rivalries.

In response, Yiqin stated that China is also prioritising the extension of the CMEC to Sri Lanka. Additionally, both parties agreed to expedite the implementation of the China-Sri Lanka Free Trade Agreement.

The CMEC is a strategic economic development initiative under the broader BRI. It focuses on fostering economic cooperation and connectivity between China and Myanmar through the development of key infrastructure projects.

These projects include transportation networks, energy pipelines and other initiatives aimed at enhancing trade and economic ties between China and Myanmar. 

Wickremesinghe also expressed gratitude for China’s support to Sri Lanka, notably acknowledging its assistance in the country’s debt restructuring programme. He extended sincere thanks to the Chinese president and government for their invaluable support in this regard.

Yiqin reaffirmed China’s enduring support to Sri Lanka and emphasised her commitment to strengthening the relations between the two countries.


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  Comments - 13

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  • Sivakumar, Jaffna Hindu Tamil Tuesday, 21 November 2023 10:02 AM

    Even the “White Man Worshipping”President would have now realised the devious hidden nature of the IMF loan but it is now too late to do anything about it other than look for mitigating factors, in this regard closer economic connection with China is paramount.

    Jaffna Tamil Lawyer, British Columbia, Canada Tuesday, 21 November 2023 10:19 AM

    China-Myanmar Economic Corridor extension to Sri Lanka is an economic miracle to Sri Lanka.The benefits and potentials are endless but the Indians would go all out to stop this ever happening. As a Lawyer living in Canada and seeing what has recently happened in the Canadian soil, I would urge Ranil and all other Sri Lankans involved in the negotiation to construct this corridor , to be conscious of their security and vulnerabilities , and double their guards.

    Selfish president Tuesday, 21 November 2023 11:03 AM

    The president will take on more debt knowing very well we are going to end up in a debt trap where we will have to sell of another asset to the Chinese. But he doesn't care, he will probably live another 15 years and it will be someone else's problem.

    Ranil-rajapaksa criminal syndicate Tuesday, 21 November 2023 11:05 AM

    Great, let's borrow our way out of the mess we got into by borrowing and stealing.

    Haramanis Tuesday, 21 November 2023 11:37 AM

    China acts on their promises while with the Indians and West it is No Action Talk Only

    Oswald Nilantha - ON Tuesday, 21 November 2023 12:45 PM

    It will be more meaningful if BRI is officially aligned with BRICS, especially for paradise Island to face economic challenges, similar to winning the Rugby World Cup. Such an alignment may ease the burden to a level beating Canada in cricket, after regaining ICC membership.

    ChildOfGod Tuesday, 21 November 2023 01:50 PM

    SAD to see some of you are sitting on your GOD given BRAINS and cannot think beyond your noses. Time for some of you to read WORLD NEWS on a DAILY BASIS and see how CHINA goes into underdeveloped COUNTRIES and ISLANDS where GREED and CORRUPT GOVERNMENT OFFICIALS take on DEBTS that they know they CANNOT REPAY and end up in a DEATH TRAP. LOOK TO THE FUTURE those who have CHILDREN, GRANDCHILDREN and GREAT GRANDCHILDREN who will SUFFER for the decisions made by our GOVERNMENT and OTHERS in AUTHORITY, who live in a WORLD OF THEIR OWN. KARMA and RETRIBUTION will DEFINITELY come down their GENERATIONS.

    Patcitz Tuesday, 21 November 2023 01:54 PM

    Well, the people of Sri Lanka consider China and its people to be benevolent toward us, helping in numerous ways, that no other country could ever equate to China and its lovely people, we are grateful to you and your people, dear madam. Please, help us chase Indian crooks' invovlement in Sri Lanka...please...please.

    KingBarnet@Pakisisland Tuesday, 21 November 2023 02:06 PM

    The president is not a former cricketer at Royal like his political mentor and uncle former President . He was a member of the Rugby team. The viewpoint and the trust of many heros who saved the country from Northen terrorism, relies on the president. President himself politically engaged in eradicating Southern terrorism (87-89) eventhough he was allegedly accused of the Batalanda acrobatics by his then political opponents. It sems that he is the only hope if there is no early national election islandwide, and horoscopic assumptions sum up another 25 years, he lives ahed. Budu Saranai.

    Ram Tuesday, 21 November 2023 02:10 PM

    Belt and Roads is the bait China used to swallow poor countries. MR gave the start and RW is going to finish the BRI deals to the detriment of our country at a time when we are struggling to get out of a death trap

    Amith Tuesday, 21 November 2023 03:22 PM

    Expansion of debt trap....

    Don Juan Tuesday, 21 November 2023 08:04 PM

    By taking this oppertunity, can we initiate to develop the ancient sea port at Galle bay in order to have another commercial port at this location. It would also be feasible to plan reclaimation of adjacent shallow sea bed areas around, for related infrastructue developments, hotels, tourist areas etc.

    Jie Wednesday, 22 November 2023 11:04 AM

    Enthusiastic Srilankans are very few. Srilankans are like British/ Canadian/US citizens. They want a luxury life with easy white collar job. Secondly they have zero knowledge to build and run mega business projects. If they see money- corruption! Stealing the tax payers money! It is not the fault of politician- all of us.


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