Aug. 15 – The Commonwealth of Nations has invited China to attend the intergovernmental organization’s Commonwealth Business Council meeting, which will be held this November in Sri Lanka. Several other non-Commonwealth countries have also been invited, including Japan, South Korea and Russia.
The business council forum will be held during the Commonwealth Heads of Government Meeting, a high-level event attended by the presidents and prime ministers of the 54 Commonwealth member states.
The Commonwealth Business Council meeting is an annual gathering of nations to discuss international trade cooperation and global investment opportunities. The theme of this year’s forum is “Partnering for Wealth Creation and Social Development,” and will feature presentations from several heads of state and international business leaders. A number of topics will be discussed, including the development of rural economies, growth strategies for SMEs, and global infrastructure challenges.
As host of the Business Council forum, Sri Lanka will also hold an exhibition showcasing the country’s small and medium-sized enterprises. The country hopes to raise US$1 billion in foreign direct investment this year, and will use the forum to attract investment into local companies and projects.
As a major trade and investment partner with Sri Lanka, China will have the opportunity to share its insights into the Sri Lankan economy with other delegates at the meeting.
In 2012, China invested US$1.05 billion into the Sri Lankan economy and has pledged to loan the country an additional US$2.2 billion this year. Investments and loans from China have gone to several large-scale infrastructure projects in Sri Lanka, including the nation’s first expressway, the Mattala Rajapaksa International Airport, and the Colombo International Container Terminal – a US$500 million seaport which opened just this month.
