Conducive environment in Sri Lanka for Chinese investments - Chinese legislator

The Chairman of the National People's Congress (NPC) of China Wu Bangguo who is in the island on a four-day official visit , has said that there is an extremely conducive environment for Chinese investments in Sri Lanka.

The visiting top legislator has said that the Sri Lankan government under the leadership of President Mahinda Rajapaksa has been able to overcome many challenges and to unleash a massive development in Sri Lanka when he met the President at the Presidential Secretariat in Colombo today.

The Chinese legislator has noted that China has provided development aid exceeding US$ 5 billion to Sri Lanka and the Sino - Sri Lankan relations have been elevated to the highest level.

He has said that his government hopes to reduce the tariff imposed on Sri Lankan entrepreneurs to encourage the trade between the two countries.

President Rajapaksa, recalling the assistance extended by China to eradicate terrorism from the country and achieve peace, has appreciated China's cooperation at the United Nations Human Right Council session earlier this year against the US-sponsored resolution.

Following the meeting between Wu and the President, the two countries have signed several bilateral agreements.

External Affairs Minister Prof. G.L. Peiris, Basil Rajapaksa, Rajitha Senaratne, Rohitha Abeygunawardena, Kumara Welgama, and T.B. Ekanayake, parliamentarian Sajin Vaas Gunawardena and Secretary to the President Lalith Weeratunga also participated in the discussions.-->