China, Lanka sign 9 pacts as Gunawardena meets Xi

Beijing/Colombo, March 27

China and Sri Lanka on Wednesday signed nine new agreements as Prime Minister Dinesh Gunawardena met Chinese President Xi Jinping and Premier Li Qing here amid Colombo’s efforts to restructure its to revive its bankrupt economy.

In his meeting with Gunawardena on Wednesday, Xi called for consolidation of friendly relations between China and Sri Lanka which he said serves the fundamental interests and reflects the common expectations of the two peoples.

China is willing to work with Sri Lanka to carry forward the spirit of the Rubber-Rice Pact, which is characterised by “independence, self-reliance, unity and mutual support,” to consolidate political mutual trust, enhance exchanges of experience in governance, expand practical cooperation, and advance the high-quality Belt and Road cooperation, Xi said.

He noted that China and Sri Lanka should join hands to advance their strategic cooperative partnership featuring sincere mutual assistance and ever-lasting friendship, an official press release here said.

Earlier, Gunawardena held talks with Premier Li last night during which the Chinese leader assured Beijing’s support to Colombo’s debt restructuring process as the island nation tries to resurrect its bankrupt economy. Gunawardena met Li on Tuesday in Beijing, a statement from the Sri Lankan PM’s office said here. The two premiers also witnessed the signing of nine new agreements between China and Sri Lanka, it said without providing any details. — PTI

Li Qiang promises to restructure debt

• Chinese Premier Li Qiang has assured his Sri Lankan counterpart Dinesh Gunawardena of Beijing's support to Colombo's debt restructuring process as the island nation tries to resurrect its bankrupt economy
• China is Sri Lanka’s largest bilateral lender owning 52% of the $40 billion external debt when Sri Lanka announced its sovereign default in 2022

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