News
Lanka’s exports to China up by 111.2% so far this year
Sri Lanka’s exports to China is up by 111.2% so far this year, Chinese Ambassador to Sri Lanka Qi Zhenhong said yesterday in a statement. He said that the two nations have been standing together and helping each other in the fighting against the pandemic.
Pointing out that Sri Lanka’s GDP achieved growth of 8% in the first half of this year, Zhenhong said the cooperation between two countries in trade, investment, finance, etc., also bore fruitful results, with the value of bilateral trade in goods up by 54.7% year on year for the first three quarters
“Major cooperation projects especially the Hambantota Port and Port City Colombo becoming new magnets to attract foreign investment. China looks forward to joining hands with Sri Lanka in defeating the Pandemic and promoting bilateral pragmatic cooperation to achieve new breakthroughs in the days to come; China is also willing to share development opportunities and draw up a blueprint for development with countries around the world to achieve greater and better development,” he said.
Zhenhong said that the Chinese economy is thriving despite the threat of the pandemic and that China’s gross domestic product (GDP) reached 82.31 trillion yuan in the first three quarters of 2021. This is a 9.8% increase over the same period last year at comparable prices, with an average two-year growth of 5.2%.
“Despite the continuous impact of COVID-19 worldwide, China’s economy was growing steadily. Its optimised and upgraded economy showed extraordinary resilience to pressure, contributed significantly to the stabilisation and restoration of the global supply chain, and injected much-needed confidence and impetus into the current world economy with uncertainty,” he said.
The Ambassador said that Sri Lanka can benefit from this thriving economy by increasing exports to identified areas. Admittedly, the Chinese economy is also faced with some challenges, including the unbalanced and inadequate development, factors restricting investment and consumer demand, structural contradiction of employment, uncertainty caused by the pandemic situation globally, and international commodity prices running high, etc., he said. However, these do not take from the indicators that the coming years would be good for the Chinese economy.
“China is striving to build a new development pattern with the domestic cycle as the mainstay and the domestic and international cycles reinforcing each other. The economic fundamentals that will sustain stable and long-term growth remain unchanged: major macro indicators have stayed within a reasonable range and the national economy maintains the trend of recovery; the economic structure has been adjusted and optimized and the quality and efficiency of development are improved; the deepening of reform and opening-up is advancing and economic development is getting stronger momentum; residents’ income continues to grow and people’s livelihood gets powerful and effective support.” he said.
Given below are excerpts from the statement: “First, the consumer price index (CPI) was at a relatively low level (up by 0.6% year on year). Prices of daily necessities were stable with a slight decline and food prices have dropped by 1.6%. Second, employment was generally stable. 10.45 million new jobs were created in urban areas, achieving 95% of this year’s target; surveyed urban unemployment rate was 5.2%. Third, steady progress was witnessed in the development of industries. The total output of summer grain and early rice increased by 3.69 million tons compared to last year and the sown area for autumn grain also expanded. The value added of high-tech manufacturing industry increased by 20.1% year on year with an average two-year growth of 12.8%. Fourth, foreign trade and investment grew rapidly. The trade value of goods increased by 22.7% year on year in the first three quarters, with widened trade surplus and optimized trade structure. Paid-in foreign investment continued to increase (up by 22.3% for the first eight months) and foreign exchange reserves remained stable, maintaining above USD 3.2 trillion for five consecutive months. Fifth, there was sustained recovery of domestic demand. Investment in the manufacturing industry and private investment achieved average two-year growth of 3.3% and 3.7% respectively. The per capita disposable income rose by 9.7% year on year, basically in line with GDP growth. Sixth, innovation and entrepreneurship gained sound momentum. China has moved up and ranks the 12th in WIPO’s “Global Innovation Index 2021″. Market entities have increased rapidly, with a total number of nearly 150 million and the overall level of activity around 70%. Seventh, the development vitality of enterprises was stimulated. For the first eight months, the value added of medium-sized industrial enterprises and micro and small ones above designated size increased by 16.3% and 14.1% year on year respectively and the total profit of industrial enterprises above designated size recorded an average two-year growth of 19.5%. Eighth, financing cost in general has been steadily decreasing. From January to August, the corporate loan interest rate was 4.63%, down by 0.13% over the same period of last year.”
Latest News
India vs Pakistan match is a godsend for T20 World Cup hosts Sri Lanka
Almost 30 years ago today, India and Pakistan formed a combined cricket team to take on Sri Lanka ahead of the 1996 Cricket World Cup in an unprecedented moment of unity in the sport’s history.
The two age-old rivals put aside their differences and came together in an act of solidarity to support a fellow South Asian team, who faced the threat of match boycotts in a tournament they had battled hard to host.
India versus Pakistan is the most highly marketed fixture at every multination tournament – the World Cup, Asia Cup or Asian Games – whether it’s a men’s, women’s or Under-19 event.
Few sporting events globally carry the weight and anticipation of an India-Pakistan cricket match. So, when Pakistan’s government ordered its team not to face India at the ongoing T20 World Cup, the tournament was briefly pushed into a state of chaos.
It also left Sri Lanka, the designated host of the fixture, holding its collective breath.
A week of negotiations led to a dramatic late U-turn by the Pakistani government and the match will now take place as scheduled on Sunday at the R Premadasa International Cricket Stadium in Colombo.
But what if the boycott had gone ahead? The impact could have been catastrophic, not just for Pakistan, but also for the International Cricket Council (ICC), as well as Sri Lanka.
With the crisis seemingly averted, the island nation stands poised to reap the benefits in its financial landscape, diplomatic standing and community.
The tourism and hospitality industry was one of the hardest hit during Sri Lanka’s financial meltdown and this match will see an enormous influx of fans from India and Pakistan coming into the country.
Hotels in and around Colombo were fully booked out well ahead of the tournament but the industry braced itself for heavy losses after Pakistan threatened a boycott.
“There’s been a massive impact since the boycott was announced,” Sudarshana Pieris, who works in Sri Lanka’s hospitality sector, told Al Jazeera.
“All major hotels in Colombo were fully booked by Indian travel agencies well ahead of the match and once the boycott was announced, we lost almost all of those bookings,” he said.
“But after Pakistan reversed their decision, hotel room rates shot up by about 300-400 percent at five-star establishments in Colombo.”
It’s not just hotels but several other local businesses – from street vendors to high-end restaurants – who are hoping for an increased footfall and spending over the weekend.
These short trips and the experiences they offer could influence visitors to extend their stay or return to Sri Lanka on holiday, long after the game has ended, in a potential long-term benefit to the industry.
Another relatively underestimated impact of the game would be the employment opportunities it creates, albeit temporarily, in the media, event management, security and transportation industries.
Asanka Hadirampela, a freelance journalist and broadcaster currently working as a Sinhala language commentator for the World Cup, recognises the marquee match as a great opportunity from a personal standpoint.
“This is my first World Cup as a broadcaster,” Hadirampela said.
“The India-Pakistan fixture is the biggest and most-watched game of the tournament. So to get to work on such a match is exciting and I consider it a special achievement.”
The lines are always blurred between sport and politics in South Asia.
So while the financial gains are expected to be significant, the fixture’s impact on the region’s geopolitical environment cannot go amiss.
Pakistan’s boycott, too, was explicitly political, as confirmed by the country’s Prime Minister Shehbaz Sharif when he said that they were offering support to Bangladesh after the Tigers were kicked out of the tournament by the ICC.
The reversal of Pakistan’s decision, which they said came after requests to reconsider the boycott by several regional “friends”, was steeped in politics, too.
Sri Lanka’s President Anura Kumara Dissanayake reportedly had a phone conversation with PM Sharif, urging his government to rethink their decision to boycott the game as the successful staging of this encounter would not only position Sri Lanka as a capable host of global sporting events but also reinforce its standing as a neutral mediator in a region fraught with geopolitical complexities.
Sri Lanka and Pakistan have always maintained strong diplomatic relations, which have extended to the cricket field as well.
Sri Lanka were one of the first teams to travel to Pakistan following their 10-year ostracisation from international cricket, which came as a result of a terrorist attack targeting the Sri Lankan team in March 2009.
When Al Jazeera reached out to Sri Lanka Cricket (SLC), its vice president Ravin Wickramaratne confirmed that SLC did, indeed, reach out to the Pakistan Cricket Board (PCB) after the boycott was announced.
“We asked them to reconsider the decision,” Wickramaratne said.
“It [boycott] would have impacted Sri Lanka economically, whether directly or indirectly.
“We have always had a good relationship with the PCB and we have always supported them, so we’re happy with their decision.”
A little over 24 hours ahead of the match in Colombo, there is a sense of palpable excitement and a growing buzz around the fixture as it returns from the brink of cancellation.
As of Saturday morning, 28,000 tickets had been sold for the game but local organisers expect a capacity crowd of 40,000 to make it into the stands.
Come Sunday, thousands more will line the streets in and around Maligawatte, the bustling Colombo suburb that houses the famous Premadasa Stadium.

Business
“We Are Building a Stable, Transparent and Resilient Sri Lanka Ready for Sustainable Investment Partnerships” – PM
Prime Minister Dr. Harini Amarasuriya addressed members of the Chief Executives Organization (CEO) during a session held on Thursday [3 February 2026] at the Shangri-La Hotel, Colombo, as part of CEO’s Pearl of the Indian Ocean: Sri Lanka programme.
The Chief Executives Organization is a global network of business leaders representing diverse industries across more than 60 countries. The visiting delegation comprised leading entrepreneurs and executives exploring Sri Lanka’s economic prospects, investment climate, and development trajectory.
Addressing the gathering, the Prime Minister emphasized that Sri Lanka’s reform agenda is anchored in structural transformation, transparency, and inclusive growth.
“We are committed not only to ensuring equitable access to education, but equitable access to quality education. Our reforms are designed to create flexible pathways for young people beyond general education and to build a skilled and adaptable workforce for the future.”
She highlighted that the Government is undertaking a fundamental pedagogical shift towards a more student-focused, less examination-driven system as part of a broader national transformation.
Reflecting on Sri Lanka’s recent political transition, the Prime Minister stated:
“The people gave us a mandate to restore accountability, strengthen democratic governance, and ensure that opportunity is not determined by patronage or privilege, but by fairness and merit. Sri Lanka is stabilizing. We have recorded positive growth, restored confidence in key sectors, and are committed to sustaining this momentum. But our objective is not short-term recovery it is long-term resilience.”
Addressing governance reforms aimed at improving the investment climate, she said:
“We are aligning our legislative and regulatory frameworks with international standards to provide predictability, investor protection, and institutional transparency. Sustainable investment requires trust, and trust requires reform.”
Turning to the recent impact of Cyclone Ditwa, which affected all 25 districts of the country, the Prime Minister underscored the urgency of climate resilience.
“Climate change is not a distant threat. It is a lived reality for our people. We are rebuilding not simply to recover, but to build resilience, strengthen disaster mitigation systems, and protect vulnerable communities.”
Inviting CEO members to consider Sri Lanka as a strategic partner in the Indo-Pacific region, she highlighted opportunities in value-added mineral exports, logistics and shipping, agro-processing, renewable energy, pharmaceuticals, and innovation-driven sectors.
“We are not looking for speculative gains. We are seeking long-term partners who share our commitment to transparency, sustainability, and inclusive development.”
She further emphasized collaboration in education, research, vocational training, and innovation as essential pillars for sustained economic growth.
Concluding her address, the Prime Minister expressed appreciation to the Chief Executives Organization for selecting Sri Lanka as part of its 2026 programme and reaffirmed the Government’s readiness to engage constructively with responsible global investors.
The event was attended by the Governor of the Western Province, Hanif Yusoof, and other distinguished guests.


[Prime Minister’s Media Division]
News
Prez AKD congratulates BNP’s Tarique Rahman on B’desh election win
President Anura Kumara Dissanayake has extended his congratulations to the Bangladesh Nationalist Party (BNP) and its leader, Tarique Rahman, following their landslide victory in Bangladesh’s parliamentary elections.
“Best wishes to the people of Bangladesh for reaffirming their faith in democracy, and congratulations to Mr. Tarique Rahman on leading the BNP in these elections. The results reflect the trust placed in him. I look forward to strengthening ties between our two nations,” President Dissanayake said, in a post on ‘X’.
The Bangladesh Nationalist Party won a landslide parliamentary election on Friday, securing a resounding mandate in a pivotal vote that is expected to restore political stability in the South Asian nation.
The parliamentary election held on Thursday was Bangladesh’s first vote since the 2024 Gen Z-driven uprising that toppled long-time premier Sheikh Hasina.
Opinion polls had given BNP an edge, and the party lived up to the forecasts, with the coalition it dominates winning 209 seats to secure an overwhelming two-thirds majority in the 300-member Jatiya Sangsad, or House of the Nation, Jamuna TV showed.
Soon after it won a majority in the overnight vote-count, the party thanked and congratulated the people and called for special prayers on Friday for the welfare of the country and its people.
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