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COLOMBO, May 18 (APD) - China's One Belt One Road (OBOR) global infrastructure project will be very significant for Sri Lanka, the country's Central Bank Chief, Dr. Indrajit Coomaraswamy, said here Thursday.
Addressing the Foreign Correspondents Association of Sri Lanka, Coomaraswamy said that Sri Lanka has a special place in the Belt and Road initiative because of its strategic location in the Indian Ocean.
"China considers Sri Lanka as the pearl of the Indian Ocean," the Governor said.
"However, to get the best out of the OBOR project, Sri Lanka must negotiate properly to get a good deal," he added.
Sri Lanka's Prime Minister, Ranil Wickremesinghe
Sri Lanka's Prime Minister, Ranil Wickremesinghe, attended the Belt and Road Summit, hosted in Beijing earlier this week where he hailed the Belt and Road initiative, proposed by Chinese President Xi Jinping, stating it will successfully generate new opportunities in the global trade growth thereby creating high end and rapid developing economies.
Wickremesinghe said that all the countries that are affiliated to this program should determinedly be united to make it a success as its benefits are reaching the far ends of those member countries.
The Sri Lankan Premier further pointed to the various Chinese-funded projects in the island country, such as the Hambantota Port, Mattala airport and the southern expressway, and said the Belt and Road Initiative complemented the country's efforts to build advanced infrastructure.
Meanwhile the Central Bank Chief, on Thursday said that Sri Lanka needs to borrow from abroad to fund its development schemes, but the better thing would be to set up a system to attract Foreign Direct Investment which will boost exports and earn foreign exchange.
Coomarswamy further said that the Sri Lankan government was working out schemes to make doing business in Sri Lanka easier.
(ASIA PACIFIC DAILY)
