Diplomatic World_nummer 58_Online

e shared by us all. In what way will your country
take part in this initiative and what are the main
opportunities for Sri Lanka?
Elephant in Sigiriya lion rock fortress, Sri Lanka.
© Shutterstock
The Belt and Road Initiative (BRI) is rooted in
the ancient Silk Road. It focuses on the Asian,
Arabian and European continents, but is also
open to all other countries. All countries, from
Asia, Arabia, Europe, or the Americas, can be
international cooperation partners of the Belt and
Road Initiative. The pursuit of this initiative is
based on extensive consultation and its benefits will
Sri Lanka is a major player in the BRI as it was a major
component of the ancient Silk Road. BRI offers a ‘winwin”
and sustainable development opportunity for us. The
Chinese-built Hambantota Port, which is at mid-point in
the shipping route from Asia to Europe is one of the major
BRI initiatives. The Government and the Sri Lanka Ports
Authority entered into a concession agreement to further
develop the Hambantota port with the aim of developing
the country as a maritime hub. Given the fiscal constraints,
the government needs to further encourage private sector
participation in economic infrastructure development,
especially for the efficient operation of transportation,
telecommunication and port services, while ensuring the
quality of such infrastructure and healthy competition
among private sector participants. The Colombo Financial
City is another BRI initiative, which is under construction
just outside the Port of Colombo. It will become a major
hub for financial services, investment and also serve as a
conference and business meeting venue.
34
Nine Arches Bridge from above, Sri Lanka
© Shutterstock