Press briefing of Cabinet Decision taken on 2017-03-14

Memorandum of Understanding between China and Sri Lanka on 'Investment and Production Capacity Promotion

- During the Hon. Prime Minister's visit to China last year, Sri Lanka entered into a Memorandum of Understanding (MoU) with the Government of China on comprehensive implementation of Investment, Economic and Technological Cooperation. As secondary to the extensive Memorandum of Understanding the National Development and Reform Commission of China has indicated its willingness to enter into a MOU with Sri Lanka on 'Investment and Cooperation on Production Capacity' with the objective of building partnership in more focused strategic areas in terms of product base and strategic infrastructure. Accordingly, the proposal made by Hon. Malik Samarawickrama, the Minister of Development Strategies and International Trade, to enter into an Agreement between the National Development and Reform Commission of the Government of the People's Republic of China and the Ministry of Development Strategies and International Trade of the Democratic Socialist Republic of Sri Lanka, was approved by the Cabinet.