You are here: Home » PTI Stories » National » News
Business Standard

Sri Lanka part of China's OBOR: Communist Party

War Conflict

Press Trust of India  |  Colombo 

Sri Lanka is very much a partner in China's ambitious One Belt One Road initiative, a Communist Party delegation said here today.

Chinese President Xi Jinping's multi-billion initiative focuses on improving connectivity and cooperation among Asian countries, Africa, China and Europe.

Guo Yehou, a Chinese Vice Minister, met Sri Lankan Prime Minister Ranil Wickremesinghe as part of the ongoing close relationship between the ruling Communist Party of China (CPC) and Wickremesinghe's United National Party (UNP), the prime minister's office said in a statement.

Wickremesinghe is the main negotiator of the Sri Lankan government's trade links with China.

The Chinese delegation assured Wickremesinghe of all assistance to make Sri Lanka a commercial and financial hub in South Asia, the statement said.

The prime minister has faced internal criticism for his furtherance of the Chinese projects including the construction of the port city in Colombo and the industrial park around the sea port in Hambantota.

Both were Chinese infrastructure projects funded under commercial loans during the 10-year rule of former president Mahinda Rajapaksa.

In December last, Sri Lanka had handed over the control of the southern sea port of Hambantota to China on a 99-year lease, triggering concern here over Beijing's efforts to expand influence in the region.

The opposition has dubbed the deals as the sell out of national assets.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Thu, August 02 2018. 21:35 IST