BRI infrastructure projects inject vigorous impetus into Sri Lanka’s economic development: former Sri Lankan ambassador to China

The Belt and Road Initiative has brought substantial benefits to Sri Lanka over the past decade, emerging as an indispensable catalyst for its economic development and resurgence, said Palitha Kohona, former Sri Lankan ambassador to China, during an exclusive interview with Guangming Online.

Looking forward to the convening of the 3rd Belt and Road Forum on the occasion of its 10th anniversary, Kohona hailed the pivotal role played by the BRI in fostering global economic growth and generating universal opportunities for shared prosperity.

He noted that Sri Lanka was among the first countries to join the BRI, and bilateral cooperation under the BRI framework has brought crucial funding for infrastructure projects, which greatly bolstered connectivity and injected new momentum into regional development.

Constructed with substantial Chinese investment, the Hambantota Port project is one of the prime examples of the BRI's influence in Sri Lanka, Kohona said: “The project has enhanced port infrastructure and enabled large vessels to dock… It already serves as a key distribution hub in the region. As the transshipment capabilities continues to expand, it will further foster economic growth by attracting increased trade flows between the West and the East.”

Another flagship project of BRI cooperation, the Colombo Port City, aims to build a financial center that will help Sri Lanka attract foreign investment and serve as a new driver for economic transformation, Kohona said. “BRI projects are breathing life into Sri Lanka's economic recovery, and we anticipate further economic revival through ongoing and future endeavors.”

Meanwhile, he looks forward to seeing increased two-way economic activities, especially in the tourism sector and bilateral trade under the BRI framework. “China has the most lucrative consumer market in the world,” he said. “Sri Lanka aims to increase its exports to the vast Chinese market and tap into China's growing consumer base”.

Commending China’s achievements in poverty alleviation, he noted that Sri Lanka stands to gain from the ongoing opening up of China, aligning with its poverty reduction efforts. He also called for more Chinese investments, particularly manufacturing and assembling facilities to settle in Sri Lanka.

He pointed out that many participating countries have benefited considerably since the BRI was launched 10 years ago, seeing significant economic growth because of BRI investments and infrastructure.

It is an active international cooperation platform for shared prosperity, he stressed, noting that BRI's influence on not only China's immediate vicinity but also regions far beyond holds promise for promoting global economic development.

“As regions develop in tandem economically, fewer countries will be left behind,” he said. “We hope that more countries will draw benefits from this initiative, and we're looking forward to the dream, that objective of a world of shared prosperity.”