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04. April 2019

China offers to invest in Sri Lanka’s rubber industry

China has offered to invest in Sri Lanka’s rubber industry, Minister of Plantation Industries Navin Dissanayake told Parliament in Colombo on 3 April 2019. He said that a delegation China's largest natural rubber maker, China Hainan Rubber Industry Group, from Hainan in China met him on 3 April and discussed investing in the rubber industry.

The Ministry of Plantation Industries said that Jinglei Han of the Foreign Affairs and Overseas Chinese Affairs Office in Hainan led the Chinese delegation at the talks. Dissanayake said that China is offering to invest heavily in the rubber industry and further discussions in this regard will be held this month. He said that he has been invited to visit China to have further discussions on this matter and he will be visiting China later this month for talks.

The Ministry of Plantation Industries said that during the visit Sri Lanka and China will sign a Memorandum of Understanding (MoU) related to the rubber industry. After signing the agreement, a rubber development zone, along with a rubber-based industrial zone, is expected to be established in Sri Lanka, the Ministry of Plantation Industries said. (This was reported by the dailies The Colombo Gazette & The Colombo Page.)

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