China is to establish a rubber based Free Trade Zone (FTZ) in Sri Lanka.
The matter was discussed between the Vice Governor of China’s Hainan province, Shen Danyang and Minister of Plantation Industries Navin Dissanayake in Colombo today.
Officials of the Chinese Embassy in Colombo and officials from the Plantation Industries Ministry also attended the discussion.
The Plantation Industries Ministry said that the rubber based Free Trade Zone will be established together by the Chinese Government and the Chinese State Council.
The Plantation Industries Ministry said that the rubber based Free Trade Zone will help promote the rubber industry in Sri Lanka and also boost foreign exchange earnings.
Cabinet approval is to be sought for the project and once approved work on the project will commence, Dissanayake said following the talks.
Dissanayake said that Sri Lanka will work closely with China to boost the plantation sector in Sri Lanka.
Meanwhile, Shen Danyang said that Hainan province will look to invest more in Sri Lanka.
He also noted the support given by the current Sri Lankan Government to boost the relationship between China and Sri Lanka. (Colombo Gazette)