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Wednesday, August 13, 2008 - 5.20 GMT |
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China assures uninterrupted and more funding |
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Commerce Minister Chen Deming of China
promised uninterrupted funding and timely
completion of projects undertaken by Chinese
firms in Sri Lanka and also ensured funding
for three new development projects, namely
the Colombo Katunayake Expressway, Puttalam
Coal Power Phase II & III and the Hambantota
oil tank and bunkering project.
This assurance was given when President
Mahinda Rajapaksa on a brief visit to China
to attend the ceremonial opening of the
Summer Olympic Games had a bilateral
discussion with Chen Deming, the Minister of
Commerce of China, to discuss ways and means
of enhancing economic co-operation between
the two countries.
The Chinese Minister also agreed to assist
Sri Lanka to enhance her production
capabilities and competitiveness in order to
stimulate Sri Lanka˘s exports to China so
that the adverse trade balance of Sri Lanka
could be changed.
Minister assured his support for early
conclusion of the 4th round of APTA with
further concessions and market access
opportunities for Sri Lanka exports.
The President apprised the Chinese Minister
of the special investment zone allocated in
the Mirigama Export Processing Zone for
Chinese entrepreneurs. Minister Chen said
that Sri Lanka would be a preferred
destination for relocation of many of the
Chinese enterprises, especially in the
textile and the light industries sectors. On
an invitation extended by the President,
Minister Chen Deming was keen to visit Sri
Lanka at a mutually convenient time to
witness the Progress of the Chinese funded
projects in Sri Lanka.
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