Chinese business delegation in Sri Lanka

To evaluate investment and expand trade:

The BOI hosted an 18-member Chinese Business delegation headed by the Vice Governor China's Yunnan Province Gao Feng.

The delegation consisted of officials and entrepreneurs from a wide range of sectors such as telecommunications, aviation, power, import-export and construction, who visited Sri Lanka on invitation by Prime Minister Ratnasiri Wickramanayake to the Governor of Yunnan Province.

Deputy Director General (Investment Promotion) BOI A.M.C. Kulasekera briefs the Chinese business delegation.

The meeting included presentations by the BOI and the delegation from Yunnan that were followed by one to one meetings between entrepreneurs of both countries with the objective of examining possibilities of investment, trade and joint ventures.

Deputy Director General (Promotion) of the BOI A.M.C. Kulasekera, briefed the Chinese delegation at the BOI's Head Office at the World Trade Centre.

Kulasekera spoke of the close relations between Sri Lanka and China that go back to the establishment of the People's Republic of China in 1949. Formal diplomatic relations were established in 1957 and relations have since gone from strength to strength and the BOI is making every effort to increase the quantum of investment from China, he said.

In recent years there have been frequent visits to the BOI by Chinese delegations who are examining the possibility of investing in Sri Lanka.

A significant development to take place recently was the signing of an agreement between the BOI and the Chinese company Huichen Investment Holdings to establish a dedicated Chinese Special Economic Zone at Mirigama.

Deputy Director General, Department of Commerce of Yunnan Province Li Jimming, the leader of the Chinese business delegation also responded on behalf of his delegation.

He said that one positive outcome of this meeting will be the signing by one of the companies present of a MOU with the Ministry of Highways worth a total of US$ 120 million.

This was a significant agreement that augured well for the economic relations between the two countries, he said.

The purpose of the delegation headed by the Vice Governor of Yunnan Province was to promote trade, investment and business matching between the private sectors of Yunnan Province and Sri Lanka.

The Chinese delegation showed special interest in the free trade agreements Sri Lanka has established with India, Pakistan and the European Union and in the regime of incentives that the BOI offers investors.