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Wang, who travelled to Colombo through the weekend from the Maldives on a two-day go to, in his assembly with Sri Lankan Prime Minister Mahinda Rajapaksa stated that the pleasant relationship between China and Sri Lanka advantages the event of each international locations and serves the elemental curiosity of each peoples, state-run Xinhua information company reported.
“It doesn’t goal any third get together and shouldn’t be interfered with by any third get together,” Xinhua quoted Wang as saying, in a thinly veiled reference to India.
China is in search of to deepen its ties with Sri Lanka making billions of {dollars} of investments in ports and infrastructure tasks amid criticism that they’re debt traps.
China’s takeover of the Hambantota port on 99 years’ lease for USD 1.2 billion debt swap drew worldwide issues over Beijing buying strategic belongings distant from dwelling by offering heavy loans and funding to smaller nations.
The Hambantota port along with Colombo port metropolis challenge the place China is constructing a brand new metropolis with reclaimed land within the sea have been considered with concern, particularly in India as Beijing seeks to extend its presence within the Indian Ocean.
There have been international issues over debt traps and regional hegemony by China utilizing its Belt and Street (BRI) infrastructure tasks.
China is doling out large sums of cash for infrastructure tasks in international locations from Asia to Africa and Europe. The US’ earlier Donald Trump administration had been extraordinarily essential of the BRI and was of the view that China’s “predatory financing” is leaving smaller counties underneath large debt endangering their sovereignty.
Final month, China suspended a challenge to put in hybrid vitality crops in three islands of Sri Lanka’s north, citing “safety concern” from a “third get together”, amid experiences of Indian concern over its location which isn’t removed from Tamil Nadu’s coast.
Considerably, Wang throughout his talks with the Sri Lankan Overseas Minister G. L Peiris proposed to ascertain a discussion board for the event of Indian Ocean island international locations, which observers say is an try by Beijing to broaden its affect within the area.
“Throughout my go to to a number of Indian Ocean island international locations this time, I really feel that every one island international locations share comparable experiences and customary wants, with comparable pure endowment and growth objectives, and have beneficial situations and full potential for strengthening mutually useful cooperation,” a press launch by the Chinese language Overseas Ministry quoted Wang as saying.
“China proposes {that a} discussion board on the event of Indian Ocean island international locations must be held at an acceptable time to construct consensus and synergy and promote widespread growth,” he stated, including that Sri Lanka can play an necessary position in it.
Earlier than his Colombo go to, Wang additionally visited the Maldives the place he held talks with prime leaders of the island nation to deepen ties with China.
Six island nations are situated within the Indian Ocean, specifically Comoros, Madagascar, the Maldives, Mauritius, Seychelles, and Sri Lanka.
In a tweet, the Chinese language embassy in Colombo described Sri Lanka as “actual Pearl” of the Indian Ocean.
In his assembly with Prime Minister Mahinda Rajapaksa, Wang praised him and described the Sri Lankan chief as “an outdated buddy to the Chinese language individuals”.
“You paid six visits to China when serving as Sri Lankan President…We maintain this particular friendship pricey and this story can be enshrined within the historical past of China-Sri Lanka relations,” Wang stated.
Considerably, Sri Lankan President Gotabaya Rajapaksa who’s the brother Mahinda Rajapaksa in his assembly with Wang raised Sri Lanka’s deepening foreign exchange disaster and spiralling exterior debt and sought Beijing’s help.
President Rajapaksa identified that it will be a fantastic reduction to Sri Lanka if consideration might be paid to restructuring the debt repayments as an answer to the financial disaster that has arisen within the face of COVID-19 pandemic, in accordance with an announcement issued by the President’s Workplace.
It’s estimated that Sri Lanka owes debt funds to China within the area of USD 1.5 to 2 billion this 12 months.
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