Lanka benefits from long-term partnership with China - Cabraal | Daily News
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Lanka benefits from long-term partnership with China - Cabraal

State Minister  Ajith Nivard Cabraal
State Minister Ajith Nivard Cabraal

State Minister of Capital Markets Ajith Nivard Cabraal noted that Sri Lanka has benefited over the long term with strong relations with the Chinese government.

In the long-term, the government wants to grow the strong government to government relationship to a people to people relationship with the two countries. Cabraal noted the importance of Chinese investments to the local economy and would look to remove any impediments to Chinese projects.

The Chinese Central Bank has recently concluded a currency swap with the Central Bank of Sri Lanka and Cabraal was confident of future arrangements if the need arose.

Cabraal was of the view that Chinese President Xi Jinping’s vision for the Belt and Road Initiative was in ‘congruence’ with the Sri Lankan President’s vision of ‘Prosperity for the future.’ Cabraal was speaking on April 6 on the webinar ‘Maximizing Trade Opportunities with China’ organized by the Bank of China and the Federation of the Chamber of Commerce and Industry.

Cabraal cited Chinese investment into Port and Highway infrastructure as being integral to the future growth story of the economy of Sri Lanka. The Sri Lankan authorities will be accommodative of Chinese investments into Sri Lankan companies.

Chinese payments providers are to be given access to Sri Lankan markets. The relationship between the two countries is to be enhanced in the coming months.