{"id":83151,"date":"2023-11-20T18:09:08","date_gmt":"2023-11-20T22:09:08","guid":{"rendered":"https:\/\/dbsjeyaraj.com\/dbsj\/?p=83151"},"modified":"2023-11-20T22:06:17","modified_gmt":"2023-11-21T02:06:17","slug":"china-will-prioritize-the-extension-of-the-china-myanmar-economic-corri-dorcmev-to-sri-lanka-states-visiting-chinese-special-envoy-shen-yiqin-in-colombo-at-meeting-with-president-ranul-wickremesin","status":"publish","type":"post","link":"https:\/\/dbsjeyaraj.com\/dbsj\/?p=83151","title":{"rendered":"China will Prioritize the Extension of the China -Myanmar Economic Corri dor(CMEV) to Sri Lanka states Visiting Chinese Special Envoy Shen Yiqin in Colombo at meeting with President Ranul Wickremesinghe"},"content":{"rendered":"

<\/p>\n

By
\nMeera Srinivasan<\/strong><\/p>\n

China is \u201cprioritising\u201d the extension of the China-Myanmar Economic Corridor (CMEC) to Sri Lanka, the country\u2019s Special Envoy told President Ranil Wickremesinghe on Monday, in an indication that China is looking to scale up the Belt and Road Initiative (BRI) project in South Asia. <\/p>\n

Paying a courtesy call on the Sri Lankan President, Special envoy of the Chinese President, state councillor Shen Yiqin, said China is prioritising the extension of the Corridor to the island nation, according to a press statement issued by Mr. Wickremesinghe\u2019s office on Monday. <\/p>\n

\u201cAdditionally, both parties agreed to expedite the implementation of the China-Sri Lanka Free Trade Agreement,\u201d the statement said. <\/p>\n

<\/p>\n

The CMEC is the newest of the six land corridors under the BRI, and has assumed prominence in place of the Bangladesh China India Myanmar (BCIM) corridor which has largely stalled. <\/p>\n

India and Bhutan are the only countries in South Asia that have stayed out of the BRI and China\u2019s more recent Global Development Initiative, which Sri Lanka has also backed. <\/p>\n

Mr. Wickremesinghe noted that countries such as Sri Lanka, which are participants in the BRI, \u201care prepared to embark on the second phase of the initiative, which is expected to make a more substantial economic contribution.\u201d <\/p>\n

Ms. Shen is in Sri Lanka after participating in President Mohamed Muizzu\u2019s inaugural ceremony in neighbouring Maldives on November 17. Her visit comes a month after President Wickremesinghe met Chinese President Xi Jinping in Beijing, on the sidelines of the third Belt and Road Forum for International Cooperation. <\/p>\n

A joint statement issued by the two governments at the time said Sri Lanka reiterated it would \u201ccontinue to actively participate\u201d in the Belt and Road Initiative proposed by China.
\nIn Monday\u2019s meeting, President Wickremesinghe \u201cexpressed gratitude for China\u2019s support to Sri Lanka, notably acknowledging their assistance in the country\u2019s debt restructuring programme,\u201d his office said. <\/p>\n

Sri Lanka is attempting to finalise a debt treatment plan with its official creditors, so it can receive the second tranche of the International Monetary Fund\u2019s nearly $ 3 billion-package for economic recovery, following last year\u2019s crisis. China has decided to stay out of the official creditors\u2019 platform and remains an observer in deliberations with India and Paris Club members, including Japan, who have sought creditor parity. <\/p>\n

Last month, the IMF said that securing an agreement with official creditors is a \u201ccritical next step\u201d for Sri Lanka. <\/p>\n

Courtesy:The Hindu <\/em><\/p>\n

Tweet<\/a><\/div>","protected":false},"excerpt":{"rendered":"

By Meera Srinivasan China is \u201cprioritising\u201d the extension of the China-Myanmar Economic Corridor (CMEC) to Sri Lanka, the country\u2019s Special Envoy told President Ranil Wickremesinghe on Monday, in an indication that China is looking to scale up the Belt and Road Initiative (BRI) project in South Asia. Paying a courtesy call on the Sri Lankan …<\/p>\n

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