China, Sri Lanka presidents meet in Beijing
The presidents of China and Sri Lanka have met in talks aimed at improving relations between the two countries, as Chinese media warned the island nation against shutting off billions in investments from Beijing.
Chinese President Xi Jinping met Sri Lankan President Maithripala Sirisena at the Great Hall of the People in the capital city of Beijing on Thursday.
Xi referred to a “new era in the traditional friendship between China and Sri Lanka,” as the presidents discussed renegotiating more than USD 5.3 billion-worth of deals between the two Asian nations.
The Sri Lankan president recently suspended construction work on a major Chinese-funded “port city” commissioned by his predecessor, Mahinda Rajapaksa, who signed deals with China to rebuild the country’s infrastructure during his decade in power.
Colombo has complained that Beijing is demanding too much interest on the loans funding its infrastructure development.
Sirisena has also called for a review of other Beijing-financed projects and loans amid allegations of corruption.
Meanwhile, China’s state-run Global Times reminded the new Sri Lankan president that the island nation’s “strategic goals will be better guaranteed if Colombo can integrate them with China-backed projects.”
The $1.4-billion “port city” land reclamation project in Sri Lanka’s capital suspended by Sirisena was also considered a security risk by neighboring India.
China has been accused of seeking to increase its presence around the Indian Ocean in a “string of pearls” strategy to deflect the rise of India and secure its own economic interests.
GMA/HSN/SS
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