China said that it is ready for large and medium scale investments in Sri Lanka with Beijing’s sponsorship, the Sri Lanka Economic development ministry said.

This was informed to Economic Development Minister Basil Rajapaksa by Chinese Vice-Minister of Commerce Cheng Jiao, who visited Sri Lanka recently.

Visiting Vice Minister Jiao also said China’s attention has been drawn to the need for reducing the trade gap between the two countries in order to further strengthen ties. While recalling long years of trade relations between the two countries the Chinese Vice-Minister also noted expansion and improvement of the island’s road network and transport facilities. He lauded Sri Lanka’s high development achievements within four years following the defeat of LTTE terrorism, the ministry said.

Minister Basil Rajapaksa expressed on behalf of the government and the people his gratitude to China’s uninterrupted contributions to Sri Lanka’s development.  Saying that Sri Lanka-China bilateral relations were on a high level, he assured that President Rajapaksa and his government were working towards building closer ties.

Economic Development Minister Rajapaksa said that today Sri Lanka has been categorized as a middle-income country thanks to the progress achieved so far through the Divi Neguma National programme in raising the living standards of the masses.