China’s investments are crucial to Sri Lanka, as the nation seeks much-needed financial support for its development, according to Sri Lanka’s Foreign Minister Ali Sabry. During an interview with Channel News Asia’s (CNA) Chandni Vatvani on Monday, Minister Sabry expressed gratitude for China’s early commitment to investing in Sri Lanka after the defeat of the LTTE in 2009.

“In 2009 when we defeated the LTTE, Sri Lanka was in need of massive investments. We didn’t only invite China, we invited the whole world. Some countries wanted to wait and see, but China took the risk and invested. And we are grateful for that,” he said.

Minister Sabry emphasized that the next phase of Sri Lanka’s development is growth-oriented and requires substantial investments. He highlighted China’s financial capabilities and its role as a strategic partner in the Belt and Road Initiative (BRI) as crucial factors for Sri Lanka.

The minister also dismissed claims of a Chinese debt trap through BRI, stating that China’s investments aim for good returns and economic prosperity. He stressed the importance of Sri Lanka making informed decisions and focusing on investments, partnerships, and growth opportunities rather than borrowing.

Sri Lanka remains neutral in global power struggles and is committed to not allowing its territory to be used for threatening other nations or building military bases. Minister Sabry also underlined the importance of fiscal discipline and consistent monetary policies based on international best practices, noting the lessons learned in the past year.