As Gunawardena meets Xi, China and Lanka sign nine agreements

In the midst of Colombo’s attempts to reorganise in order to resuscitate its bankrupt economy, Prime Minister Dinesh Gunawardena met with Chinese President Xi Jinping and Premier Li Qing on Wednesday and the two countries inked nine new agreements.

Xi advocated for the strengthening of cordial ties between China and Sri Lanka at his meeting with Gunawardena on Wednesday. He said that this suits the two countries’ shared interests and aspirations.

The Rubber-Rice Pact is characterised by “independence, self-reliance, unity, and mutual support,” and Xi stated that China is willing to collaborate with Sri Lanka to uphold this spirit. Other goals include strengthening political mutual trust, enhancing governance experience exchanges, expanding practical cooperation, and advancing high-quality Belt and Road cooperation.

According to an official press statement issued here, he said that China and Sri Lanka should work together to develop their strategic cooperative cooperation, which consists of genuine mutual help and enduring friendship.

Premier Li promised Beijing will back Colombo’s debt restructuring process as the island country attempts to revive its bankrupt economy during earlier meetings with Gunawardena yesterday night. According to a statement from the Sri Lankan PM’s office, Gunawardena visited Li on Tuesday in Beijing. It claimed, without giving any specifics, that the two premiers also witnessed the signing of nine new agreements between China and Sri Lanka. — PTI

Li Qiang pledges to reorganise debt.

As the island country attempts to revive its bankrupt economy, Chinese Premier Li Qiang has reassured his Sri Lankan counterpart Dinesh Gunawardena of Beijing’s support for Colombo’s debt restructuring process.
When Sri Lanka declared its sovereign default in 2022, China was the country’s biggest bilateral lender, holding 52% of the country’s $40 billion foreign debt.