News
Sri Lanka, China ink MoUs on trade partnership
Sri Lanka and China have signed two Memoranda of Understanding to set up a working group on trade facilitation, and on industrial and supply chain cooperation.
“China and Sri Lanka have taken steps to deepen economic and trade cooperation, signing key agreements and exploring additional investment opportunities during the eighth meeting of the China-Sri Lanka Joint Trade and Economic Commission held on May 29th in Colombo,” the Embassy said on social media platform ‘X’ on Sunday.
The meeting was jointly chaired by China’s Commerce Minister Wang Wentao and Sri Lankan Minister of Trade, Commerce, Food Security and Co-operative Development Wasantha Samarasinghe. “Both sides exchanged in-depth views on advancing high-quality Belt and Road Initiative cooperation, expanding trade and investment, and safeguarding the multilateral trading system,” the Chinese Embassy’s post said.
Minister Wang also met President Dissanayake during his visit.
According a statement issued by the President’s office, Minister Wang noted that considering “the current political and economic stability in Sri Lanka, along with the clear policy direction” of the Dissanayake administration, “there has been a notable rise in interest from Chinese investors looking to invest in the country.”
“We discussed enhancing our trade relations and expediting development projects in Sri Lanka. Exciting times ahead with increased interest from Chinese investors,” the President said on social platform ‘X’ following the meeting.
The bilateral initiatives take off from deliberations held during President Anura Kumara Dissanayake’s visit to China in January this year, soon after he visited India in December 2024, making New Delhi his first stop abroad after assuming office in September 2024.
A joint statement issued on Dissanayake’s China visit said the two sides agreed to work on the “early conclusion of a comprehensive free trade agreement.” Speaking at an investors’ forum in Colombo during his visit Mr. Wang, according to local publication Economynext, said: “It is hoped that the two sides continue to work toward the conclusion of a comprehensive free trade agreement in one package, in line with the principles of equality, mutual benefit.”
New Delhi and Beijing are keen to cultivate close ties with the leftist Sri Lankan leader, who has repeatedly emphasised a non-aligned foreign policy that would prioritise Sri Lanka’s interests. India and sections within Sri Lanka have been highlighting the need to resume bilateral talks on Economic and Technological Cooperation Agreement (ETCA) — stalled at different points — especially in the context of U.S. President Donald Trump’s decision to slap tariffs on trade partners. During Prime Minister Narendra Modi’s visit to Sri Lanka in April 2025, the two sides inked seven MoUs, including one on defence cooperation.
Last month, Sri Lanka’s Cabinet approved a proposal for a Memorandum of Understanding (MoU) between China’s Chongqing Transmission Corporation Limited and the state-run Rupavahini Corporation to “promote mutual understanding, strengthen cooperation, and exchange training opportunities in the field of media”.
Latest News
Sun directly overhead Pomparippu, Anuradhapura, Mihinthale, Galenbindunuwewa, Agbopura and Serunuwara about 12:11 noon today (11)
On the apparent northward relative motion of the sun, it is going to be directly over the latitudes of Sri Lanka from 05th to 15th of April in this year.
The nearest areas of Sri Lanka over which the sun is overhead today (11th) are Pomparippu, Anuradhapura, Mihinthale, Galenbindunuwewa, Agbopura and Serunuwara about 12:11 noon.
News
Opposition NCM against Energy Minister defeated
A no-confidence motion brought by the Opposition against Energy Minister Kumara Jayakody was defeated in Parliament yesterday by a majority of 104 votes.At the end of the debate, 49 members voted in favour of the motion, while 153 voted against it.
The motion, submitted to the Speaker on 19 March, was signed by Opposition Leader Sajith Premadasa, SJB MPs, and other Opposition members.
It accused Minister Jayakody of failing to ensure the procurement of adequate and quality coal for the Lakvijaya Coal Power Plant in Norochcholai, alleging that such negligence amounted to a breach of ministerial responsibility over a critical national energy asset.
The motion also cited ongoing legal proceedings against the Minister, noting that he has been indicted by the Commission to Investigate Allegations of Bribery or Corruption and produced before the Colombo High Court under Section 70 of the Bribery Act, in connection with alleged acts of corruption during his tenure as Procurement Manager of the Ceylon Fertiliser Company Limited.
The motion read: Vote of No Confidence against Kumara Jayakody, Minister of Energy,— Whereas the Provision in Section 6 of the Part III of the Code of Conduct for Members of Parliament which states that: “The Members shall on all occasions act in accordance with the public trust entrusted with them and shall always behave with probity and integrity, including the use by them of any public resources.” has been violated; And whereas the following rules of conduct set out in Section 9 of the Part V of the Code of Conduct for Members of Parliament have prima facie been breached, namely:- “(a) to be conscience; (c) to act so as to merit the trust and respect of the people; (e) to hold themselves accountable for the conduct and duties for which they are responsible;” And whereas it is observed that the Minister has failed, in his capacity as a Minister of the Cabinet of Ministers, to discharge the fundamental duties incumbent upon him in accordance with Article 28 of the Constitution;
And whereas it is established that the Minister of Energy has failed to discharge his primary duty of ensuring the procurement of adequate and good quality coal for the Norochcholai Lakvijaya Coal Power Plant;
And whereas such gross negligence in overseeing a critical national energy asset constitutes a fundamental breach of ministerial responsibility;
And whereas the Minister of Energy has failed to carry out the subjects and functions vested in him by the Notification of Gazette Extraordinary No. 2412/08 of 25th November 2024 of the Democratic Socialist Republic of Sri Lanka, including taking necessary steps to reduce the losses at the institutional management level and technical damages that occur to the electricity generation and distribution system and reduction of costs for generating electricity and removal of uncertainties during generation;
And whereas the Commission to Investigate Allegations of Bribery or Corruption has filed formal indictments before the Colombo High Court against the incumbent Minister of Energy under Section 70 of the Bribery Act (Chapter 26) for the offence of “corruption” in connection with acts of corruption allegedly committed while he was serving as the Procurement Manager of the Lanka Fertilizer Company;
And whereas, in light of the foregoing, the Minister of Energy has irretrievably forfeited the confidence of Parliament and the people of Sri Lanka by causing losses to public finances, endangering national energy security, corruptly mishandling the procurement process, being subjected to active judicial proceedings for the offence of “corruption”, and betraying the Government’s own “anti-corruption mandate”, and his continued tenure as the Minister of Energy is contrary to the public interest, the rule of law, and the principles of good governance;
That this Parliament resolves that it has no confidence in the competence of Kumara Jayakody, Minister of Energy to function as a Minister of the Cabinet of Ministers any longer.”
by Saman Indrajith
News
Chinese Ambassador assures Lanka China will not allow a fuel crisis to develop here
Chinese Ambassador to Sri Lanka Qi Zhenhong yesterday assured that China would not allow a fuel crisis to arise in Sri Lanka, under any circumstances, reaffirming Beijing’s continued support to the country.
The Ambassador made these remarks addressing the media after attending a dry ration distribution programme for 350 low-income families at Sri Chandananda Buddhist College, at Asgiriya, in Kandy.
Highlighting the longstanding ties between the two countries, Ambassador Qi said China has consistently stood by Sri Lanka and remains ready to extend assistance whenever required.
Amid concerns over global energy disruptions, stemming from the ongoing Middle East conflict, he noted that several countries are already facing difficulties, but stressed that China is prepared to support Sri Lanka at any time.
He said that any potential fuel shortage in Sri Lanka could be managed with the involvement of China’s Sinopec.
Reiterating Beijing’s commitment to Sri Lanka’s economic recovery and development, the Envoy also expressed hope that the current ceasefire in the Middle East would hold, while assuring that China stands ready to respond to any future developments and assist Sri Lanka as needed.
By SK Samaranayake
-
Features7 days agoRanjith Siyambalapitiya turns custodian of a rare living collection
-
News7 days agoGlobal ‘Walk for Peace’ to be held in Lanka
-
News5 days agoLankan-origin actress Subashini found dead in India
-
News3 days agoAG: Coal procurement full of irregularities
-
Business2 days agoIsraeli attack on Lebanon triggers local stock market volatility
-
Features7 days agoBeyond the Blue Skies: A Tribute to Captain Elmo Jayawardena
-
Features7 days agoAspects of Ceylon/Sri Lanka Foreign Relations – 1948 to 1976
-
Business3 days agoHayleys Mobility introduces Premium OMODA C9 PHEV
