Sri Lanka Creates Special Economics Zone for Chinese Investors

The Times of India reports that Sri Lanka has created a SEZ near the city of Colombo exclusively for Chinese companies:

This is one of the decisions taken during meetings between Chinese leaders and Sri Lankan Foreign Minister Rohitha Bogollagama over the past two days. The move is apparantly driven by Colombo’s desire to attract large amounts of Chinese investment and Beijing’s desire to keep its citizens and investments focussed in one secure place close to the national capital instead of scattering them across the country.

“China is a major player in the world, and a major player in the regional context too. We will work very closely with China,” Bogollagama said. But he made it clear that friendship with Beijing will not be at the cost of India. Colombo viewed relationship with the two countries as “two tracks on a railway-line running independently”…

China gave $1 million US dollars in humanitarian aid to Sri Lanka to help the displaced civilians. China’s provision of 20-million-yuan tents had also reached Sri Lanka. “China always backs Sri Lanka’s domestic reconciliation and peace process and will continue to play its positive and constructive role,” said Chinese foreign ministry spokesman Qin Gang said.

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