Colombo, Sri Lanka — In a move to enhance bilateral trade and economic ties, Sri Lanka and China have signed two key Memorandums of Understanding (MoUs), marking a significant step forward in their longstanding partnership. The signing took place during the recent China-Sri Lanka Joint Trade and Economic Commission meeting held in Colombo.
According to a statement by the Chinese Embassy in Sri Lanka, the first MoU outlines the creation of a dedicated trade facilitation working group, aimed at resolving trade bottlenecks and streamlining processes. The second agreement focuses on fostering industrial and supply chain cooperation between the two nations.
The meeting was attended by China’s Minister of Commerce, Wang Wentao, and Sri Lanka’s Minister of Trade, Commerce, Food Security and Co-operative Development, Wasantha Samarasinghe. The two sides engaged in productive discussions on enhancing collaboration under the Belt and Road Initiative, expanding bilateral trade and investment flows, and reinforcing support for the multilateral trading system.
The embassy also noted that both parties explored new avenues for investment, underscoring their commitment to deepening economic engagement in the region.