China, Lanka trade tops US $ 3 bn

Indunil HEWAGE

The total bi-lateral trade value between Sri Lanka and China topped US $ 3.2 billion, which is the highest in the history. Sri Lanka’s exports to china have increased by 5.9% to $ 162 million in 2012 in comparison to 2011. China’s exports to Sri Lanka reached over US$ 3 billion in 2012.

Investments from China to Sri Lanka were likely to increase this year as against US $ 243 million recorded in 2012. In the past year trade,investment and economic cooperation between our two countries made great achievements in spite of the international economic situation. “We are planning to continue our investment cooperation with Sri Lanka in future too,” Wang Yingqi, Commercial Counsellor of the Embassy of China said.

The cooperation in the infrastructure sector also made great strides. Major projects, like Mattala Rajapaksa International Airport in Hambantota, Putlam Power Plant, Colombo-Katunayake Expressway, Colombo Lotus Tower, South Container Terminal of Colombo Port, Extension Lines of South Highway from Pinnaduwa to Godagama and the railway from Matara to Beliatta and some road construction projects like, A9 to Jaffna were all working well.

“We believe the future of bi-lateral economic cooperation lies on industrial and manufacture sector, which could attract a great deal of Chinese investment together with technology, machinery and management. Sri Lanka is the best country to invest in the South Asian region or even a better location than some of the ASEAN countries,” Yingqi said.