Global Politics Comment

CWA # 1576
Global Politics Comment
Sri Lanka: Seven takeaways of new President's first visit to China

Kumari Krishna
26 January 2025

Photo Source: X/Anura Kumara Dissanayake

During 14-17 January 2025, President Anura Kumara Dissanayake visited China. His visit witnessed a joint statement between the two countries and numerous agreements on mutual commitments with significant economic and geopolitical implications for both countries. His visit underlines terms of investment, trade agreements, and significant cooperation in other sectors.

The following are significant takeaways from President Dissanayake's first visit to China.
1. Emphasis on mutual respect, trust, and support with an independent foreign policy, and Taiwan 
China and Sri Lanka highlighted 68 years of diplomatic ties and are expected to deepen their relationship by focusing on "mutual trust, support, respect, win-win cooperation, and common development." The Chinese side reiterated "its commitment to an independent foreign policy of peace" along with firm support for Sri Lanka in safeguarding its independence, sovereignty, and territorial integrity. Reaffirming this, Sri Lanka reiterated "its commitment to an independent, non-aligned foreign policy." 

Sri Lanka expressed "its commitment to the one-China principle, recognizing the People's Republic of China as the sole legal government representing the whole of China, and Taiwan is an inalienable part of China's territory" along with strong opposition to "Taiwan independence" and pledged not to allow anti-China or separatist activities on its territory. Sri Lanka reassured its support to China regarding its policies with Xizang and Xinjiang.

2. Sinopec Investment in Hambantota Oil Refinery
A formal agreement with the People's Republic of China, including the Sinopec Group, was finalized regarding the Hambantota Oil Refinery to establish a state-of-the-art refinery in Hambantota. Its value is an estimated USD 3.7 billion, and it will have a capacity of 200,000 barrels daily, mainly for export. The country's earnings concerning foreign income will go up considerably, thereby building foreign reserves. It also reflected the significance of Hambantota as a strategic economic hub for China.

3. China's Financial and Technical Assistance to Sri Lanka
China granted Sri Lanka RMB 500 million for Economic and Technical Cooperation. Another important outcome was the creation of an Investment and Economic Cooperation Working Group to enhance bilateral trade and encourage investments. The Central Bank of Sri Lanka and the People's Bank of China have renewed their currency swap agreement. They will continue to cooperate financially with China to play a positive role in the International Monetary Fund while maintaining positive communication to help Sri Lanka achieve debt sustainability.

4. China's support for Sri Lankan Enterprises and Key sectors
China will continue supporting Sri Lankan tea, gems, and other enterprises. Chinese importers and exporters have pledged cooperation with their Sri Lankan equivalents. In turn, this program would propel exports of Sri Lankan goods. The discussion included various ways to push forward digital transformation, green development, and logistics to offer Sri Lanka an opportunity to introduce modernized activities within industries.

5. China-Sri Lanka Agricultural Collaboration
The visit highlighted China's willingness to support Sri Lanka's agricultural sector. The cooperation includes training programs and demonstration projects on bio-technologies for tropical crops, plant breeding, and aquaculture. These endeavours will help strengthen Sri Lanka's capacity for sustainable agricultural development and diversify its export needs to include unique products such as tea, cinnamon, fruits, and aquatic products. This partnership is likely to promote rural revitalization in Sri Lanka.

6. Emphasis on language and cultural exchange 
China pledged to show an interest in promoting cultural exchanges through activities such as teaching the Chinese language in Sri Lanka while working together to develop the China-Sri Lanka Joint Center for Education and Research to strengthen scientific and technological exchanges. The two sides will extend their cooperation in areas including "youth, think tanks, sports, and the media, build on the bond of Buddhist exchanges and deepen people-to-people and sister-city exchanges" and strengthen their participation in the Alliance for Cultural Heritage in Asia, which according to China will promote bilateral cultural heritage cooperation with Sri Lanka.

Furthermore, both countries pledged to jointly promote tourism flows, with China encouraging Sri Lankan cities to participate in the International Tourism Alliance of Silk Road Cities. Both countries will support and promote tourism activities.

7. Emphasis on BRI and Maritime cooperation
The visits called for push-on commitments for major infrastructure projects that include the integrated development of Colombo Port City and Hambantota Port. This is expected to draw in more investments and new economic opportunities in Sri Lanka under the BRI by China. Despite some reservations regarding debt risks, the Sri Lankan government has appreciated China's support.

China also encourages Sri Lanka's participation in the Belt and Road International Green Development Coalition in the wake of climate change and has agreed to collaborate in disaster prevention, mitigation, and emergency rescue. It will also share technologies to improve emergency management capabilities.  

China and Sri Lanka have agreed to enhance cooperation in marine environment conservation, disaster relief, capacity building, maritime rescue, and personnel training. The parties proposed negotiations on a Memorandum of Understanding on Ocean Cooperation towards a Blue Partnership, thus signalling for sustainable utilization of the ocean's resources.

About the author
Kumari Krishna is a Postgraduate Student at OP Jindal Global University, Haryana.

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