Why will Sri Lanka’s PM Dinesh Gunawardena visit China next week?

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Sri Lankan Prime Minister's Visit to China Focused on Bilateral Relations and Cooperation

Sri Lankan Prime Minister Dinesh Gunawardena is scheduled to visit China from March 25 to 30 at the invitation of Premier Li Qiang. The primary objectives of this visit are to engage in an "in-depth exchange of views on continuing China-Sri Lanka traditional friendship" and to explore opportunities for jointly building the Belt and Road Initiative with high quality, alongside expanding exchanges and cooperation in various fields.
Engagement with Chinese Leadership

During his five-day official visit, Prime Minister Gunawardena is expected to meet with Chinese leader Xi Jinping. This high-level engagement signifies the importance both nations place on their bilateral relationship. The discussions are intended to cover the enduring traditional friendship between China and Sri Lanka.
Debt and Economic Context

China is Sri Lanka's largest bilateral lender, holding approximately 10 per cent of the island nation's total foreign debt. Sri Lanka defaulted on its US$46 billion external debt in April 2022. While the country secured a US$2.9 billion International Monetary Fund (IMF) bailout last year, a crucial condition involves finalising agreements with creditors. The IMF has indicated that completing these creditor negotiations is a critical next step for the release of further bailout funds.
Belt and Road Initiative Focus

A significant aspect of the Prime Minister's visit will be the discussion on jointly building the Belt and Road Initiative. This initiative, a cornerstone of President Xi Jinping's foreign policy, aims to expand China's global influence through infrastructure development and economic partnerships. Both countries are expected to explore ways to enhance cooperation within this framework.

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Why will Sri Lanka’s PM Dinesh Gunawardena visit China next week?

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