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A container ship docks next to gantry cranes at the Port of Colombo in Colombo, Sri Lanka on September 23, 2024. File photo: VCG

 

Maya Majueran Photo: Courtesy of Maya Majueran

Sri Lanka's President Anura Kumara Dissanayake concluded a four-day state visit to China on Friday. The visit shows that the new government remains committed to strengthening its partnership with China under the Belt and Road Initiative (BRI) framework, recognizing its potential to bolster Sri Lanka's economic resilience and development.

By focusing on sustainable and mutually beneficial projects, the government aims to attract more BRI-related investments that align with the country's long-term objectives, particularly in key sectors such as transportation, energy, and digital infrastructure. The new government also seeks to learn China's expertise in areas such as technology, agriculture, tourism, education, and the development of micro, small, and medium enterprises.

The China-Sri Lanka Free Trade Agreement (FTA) is currently under negotiation. This agreement will help Sri Lanka attract more Chinese manufacturers to establish a presence in the country, leveraging its strategic location to export to other markets at competitive prices.

Last year, Sri Lanka implemented visa exemptions for Chinese nationals. According to a report by the South China Morning Post in January, Sri Lanka is reversing a year-long ban on foreign research vessels in its waters in January. A series of potential policy benefits may create opportunities for deepening practical cooperation between China and Sri Lanka.

In December 2024, Dissanayake visited India, marking his first overseas trip since his election. The visit to both India and China shows that the current Sri Lanka government's aim to maintain balanced diplomatic relations with all nations, taking a pragmatic approach and is unwilling to take side between New Delhi and Beijing.

The visit also comes after Sri Lanka's application to join BRICS and Regional Comprehensive Economic Partnership (RCEP), the world's largest free trade deal. Sri Lanka's strategic location at the crossroads of major shipping lanes in the heart of the Indian Ocean positions it as a vital logistics hub for the region. This advantage highlights Sri Lanka's significance as a key player in global trade and its potential as a valuable member of BRICS and RCEP.

Thriving BRI cooperation

Sri Lanka was among the first countries to openly join BRI, recognizing its strong alignment with the nation's own development strategy. Through its partnership with the BRI, Sri Lanka has embarked on a series of transformative developmental projects, resulting in a significant overhaul of the country's infrastructure that had been long overdue, and those advancements play a crucial role in driving Sri Lanka's economic growth and improving its infrastructure.

Through the BRI, China has played a pivotal role in improving infrastructure and creating jobs, significantly benefiting the Sri Lankan people. For example, the flagship BRI connectivity project, Colombo International Container Terminal, has contributed positively to Sri Lanka's economy, enabling the rapid growth of the Colombo port.

The Lotus Tower in Colombo, capital of Sri Lanka, also offers an example of how the successful implementation of BRI project debukes criticism and smearing.

According to a Xinhua News Agency report, Sri Lanka and China signed an agreement in 2012 to build the highest TV tower in South Asia, with a Chinese company being the general contractor. The tower was opened to the public in September 2022.

The tower has now become a symbolic landmark for the country, attracting visitors for sightseeing, photography, and cultural experiences. It also offers adventure sports such as skydiving and bungee jumping. Interestingly, many of those who initially criticized the tower are now proudly sharing their experiences on social media.

Maya Majueran is the director of Belt and Road Initiative Sri Lanka, a Sri Lanka-based organization that specializes in BRI cooperation.