Sri Lanka facing "non-development trap" not "debt trap"

COLOMBO (News 1st): The Chinese Ambassador to Sri Lanka Qi Zhenhong said that Sri Lanka and the region is facing a "non-development trap" and not a "debt trap".

He was speaking at the Geopolitical Cartographer discussion on the Indian Ocean and Indo-Pacific dimensions of recent high-level visits, in Colombo recently.

The discussion was also attended by High Commissioner of India Gopal Bagley, Ambassador of France Jean-Francois Pactet and Ambassador of Japan Hideaki Mizukoshi, with Sri Lankan President Ranil Wickremesinghe in attendance.

The Chinese Ambassador said that Sri Lanka not only needs debt restructuring, but more importantly, requires economic restructuring for the future.

In his comments, the Ambassador said that after the COVID-19 pandemic, China maintained the closest high-level exchanges with Sri Lanka, with the largest foreign investments, and the fastest growing number of tourists to the island nation.

He said that a majority of the countries in the Indian Ocean region are developing countries, and face the same development tasks.

The Chinese Ambassador to Sri Lanka Qi Zhenhong insisted on cooperation instead of confrontation, and also insisted on openness instead of isolation.

He also said that states must respect others' independence and sovereignty, and oppose any external interference.

The Chinese Ambassador to Sri Lanka Qi Zhenhong also noted that China has always been the strongest partner for Sri Lanka to achieve its sustainable development goals, move out of the 'non-development trap' to safeguard its sovereignty, independence, and national dignity, and to enhance its global and international influence.