News

FTA with China next year, new port city agreement byAugust

17 Jun, 2016

The Government hopes to sign a proposed Free Trade Agreement with China next year, Prime Minister Ranil Wickremesinghe said today.

The Prime Minister said Sri Lanka and China will establish stronger diplomatic relations keeping the future in mind.

He also said that a new?agreement is to be signed by August with the Chinese company involved in the port city project.

Wickremesinghe said that under the new agreement the Chinese company, China Harbour Engineering Company Ltd (CHEC), will have rights to the port city land under a 99 year lease.

He also said that the port city will be converted into an economic hub to be in line with economic hubs in Singapore and Dubai.

China Harbour Engineering Company Ltd is also involved in the Hambantota dockyard project which is to be completed this year.

The Prime Minister said the Government is also in talks with India and Japan to sign deals on various projects.

He said Japanese assistance has been sought to construct an elevated highway in Colombo to ease the traffic congestion.

Wickremesinghe said the foreign policy of the new government has resulted in foreign assistance pouring in to Sri Lanka.?(Colombo Gazette)

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