Sri Lanka has expressed its readiness for the second phase of the Belt and Road Initiative, and China has shown great interest in extending the China-Myanmar Economic Corridor (CMEC) to include Sri Lanka. This information was disclosed during a courtesy call made by the Special envoy of the Chinese President, State Councillor Shen Yiqin, to Sri Lankan President Ranil Wickremesinghe in Colombo on Monday. According to a statement from the President’s Media Division, Wickremesinghe stated that countries like Sri Lanka, which are participants in the Belt & Road initiative, are prepared to engage in the second phase of the initiative, which is expected to have a more significant economic impact. He also expressed Sri Lanka’s desire to enhance cooperation with China in the areas of tourism, sports, and agriculture. Wickremesinghe emphasized that both the Hambantota Port and Port City are currently ready for investment opportunities. He also outlined the measures taken by Sri Lanka to join the Regional Comprehensive Economic Partnership (RCEP) and reiterated the country’s commitment to maintaining the Indian Ocean as a freely navigable and peaceful region, free from global geopolitical rivalries. In response, the Chinese Special Envoy Yiqin stated that China is also prioritizing the extension of the China-Myanmar Economic Corridor to Sri Lanka. Furthermore, both parties agreed to expedite the implementation of the China-Sri Lanka Free Trade Agreement. The China-Myanmar Economic Corridor (CMEC) is a strategic economic development initiative within the broader Belt and Road Initiative. Its main focus is to promote economic cooperation and connectivity between China and Myanmar through the development of crucial infrastructure projects. These projects include transportation networks, energy pipelines, and other initiatives aimed at strengthening trade and economic ties between China and Myanmar. Wickremesinghe also expressed gratitude for China’s support to Sri Lanka, particularly acknowledging their assistance in various areas.
