China is preparing to extend the China-Myanmar Economic Corridor to Sri Lanka

China is very interested in extending the China-Myanmar Economic Corridor (CMEC) to include Sri Lanka, the Special Representative of the Chinese President, State Council Member Shen Yiqin said yesterday when she met Sri Lankan President Ranil Wickremesinghe in Colombo.

The Sri Lankan President expressed Sri Lanka’s willingness to develop cooperation between the two countries in the fields of tourism, sports and agriculture. He emphasized that Hambantota Port and Port City are now ready for investment opportunities.

At the meeting, he outlined the steps taken by Sri Lanka to join the Regional Comprehensive Economic Partnership and reaffirmed the country’s commitment to maintain the Indian Ocean as a freely navigable and peaceful region free from global geopolitical rivalries.

In response, Yiqin stated that China also prioritizes the extension of CMEC to Sri Lanka. In addition, both sides agreed to expedite the implementation of the China-Sri Lanka Free Trade Agreement.

CMEC is a strategic economic development initiative under the broader Belt and Road Initiative (BRI). It focuses on developing economic cooperation and connectivity between China and Myanmar through the development of major infrastructure projects.

These projects include transportation networks, energy pipelines and other initiatives aimed at improving trade and economic ties between China and Myanmar.