President requests China to participate in Sri Lanka’s tea auction; open market for SL items
LBO / Lanka Business Online , 2020-10-09
Oct 09, 2020 (LBO) – Sri Lanka’s President Gotabaya Rajapaksa requests China to participate in Sri Lanka’s tea auction as it will be a major boost to economic stability.
“Sri Lanka has a strong private sector. They manufacture various products. Open the Chinese market for these items. Encourage Chinese investors to invest in Sri Lanka. Promote Chinese people to visit Sri Lanka,” Rajapaksa said.
“If China can participate in Sri Lanka’s tea auction, it will be a major boost to economic stability.”
Explaining the limited tertiary educational opportunities available to Sri Lanka youth who pass GCE Advanced Level, President said establishing a University of Technology for them will be an area where China can invest in Sri Lanka.
“China had contributed to a number of large-scale infrastructure development projects. Hambantota Port, the Port City project, Southern Expressway are some of them. Constructing a port in Hambantota is an idea of Sri Lanka and not China’s. We were convinced that it wouldl be a project with a vast potential for generating income and employment opportunities. China offered to fund it. Many geo-political analysis interprets this project as ‘debt trap’ set up by China to gain control over Sri Lankan affairs. I want to prove that it is not the case and that this large-scale project will help improve the living standards of the people. Assist us in this endevour,” President told the Chinese delegation.
“I have seen massive development especially in rural areas. My target is to bring about similar development especially in rural areas in Sri Lanka and to raise the living conditions of the people in this country, especially that of the poor. I look forward to seeing a visible progress in the Port City project over the next four years.”
President Rajapaksa pointed out that Sri Lanka’s trade deficit with China is high and called on the leader of the delegation to increase the volume of goods purchased from Sri Lanka to bring it down.
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