China keen on new Sri Lanka-India economic pact: Malik

ECONOMYNEXT – China is keen on Sri Lanka’s proposed new economic partnership agreement with India as they want to make use of it to ship products made on the island to the subcontinent, said Malik Samarawickrama, Minister of Strategic Development and International Trade.

“China is extremely keen on us finalising the Economic and Technology Cooperative Agreement (ETCA) with India,” he told the ‘Sri Lanka Investment and Business Conclave’ organised by the Ceylon Chamber of Commerce.

He said that his talks during his recent visit to China revealed that the Chinese want to set up industries in Sri Lanka and export to other countries.

“Our market is small. So they are looking at our economic agreement with India for them to produce here and sell to India and also markets.”

Samarawickrama said the Chinese will set up a 1,000 acre industrial zone in Hambantota where they have built a new port which is underutilised.