Sri Lanka Allows China Research Ship to Dock After India Concern

  • In Business
  • 2022-08-14 04:00:25Z
  • By Bloomberg

(Bloomberg) -- Sri Lanka defended its decision to allow a Chinese scientific research ship to call at its shores after deferring an earlier request amid concerns raised by India and the US over such a move.

Most Read from Bloomberg

  • Anshu Jain, Deutsche Bank Chief in a Pivotal Era, Dies at 59

  • Trump Search's Revelations Open New Political Front for Midterms

  • Extreme Heat Uncovers Lost Villages, Ancient Ruins and Shipwrecks

  • Author Salman Rushdie Stabbed on Lecture Stage in New York

  • 'Pharma Bro' Martin Shkreli's Crypto Token Plunges After Massive Sale

The Yuan Wang 5 was cleared to dock at Hambantota port from Aug. 16 to 22 after the government "engaged in extensive consultations at a high level through diplomatic channels with all parties concerned," including seeking "further information and material," the Ministry of Foreign Affairs said in a statement Saturday.

The South Asian island nation is experiencing political and economic turmoil after defaulting on debt for the first time and has endured months-long protests. The government previously deferred a request by the Chinese embassy on June 28 to allow the ship a port call in mid-August for replenishment purposes.

How Sri Lanka Landed in a Crisis and What It Means: QuickTake

The earlier postponement was made after "certain concerns" were raised, according to Sri Lanka's foreign ministry. India's Ministry of External Affairs said on July 28 in response to questions on the ship's proposed visit that it is carefully monitoring any development that might have a bearing on India's security and economic interests, and "takes all necessary measures to safeguard them."

The US has also been lobbying the government to revoke Chinese access to the port, the Washington Post previously reported, citing an unnamed Sri Lankan official. India and the US argue that allowing the visit will be viewed as giving special treatment to China when the country is seeking to renegotiate its debt and seek a bailout from the International Monetary Fund, the paper said.

The over decade-old Hambantota port has been plagued by controversy, with the government having to borrow heavily to construct it. When Sri Lanka couldn't repay the loans, it granted China a 99-year lease on the facility for debt relief.

The Yuan Wang 5 is currently sailing in the Indian Ocean, according to shipping data tracked by Bloomberg.

The Sri Lanka foreign ministry said in its statement the ship will not be allowed to conduct scientific research within Sri Lanka waters and must keep its automatic identification system switched on within its Exclusive Economic Zone.

"It is Sri Lanka's intention to safeguard the legitimate interests of all countries, in keeping with its international obligations," it said, reiterating its "policy of cooperation and friendship with all countries."

Most Read from Bloomberg Businessweek

  • The Work-From-Home Revolution Is Also a Trap for Women

  • Mark Zuckerberg's Sheryl Sandberg Replacement Has Long Been Meta's Top Fixer

  • Booming Beef Industry Has Urban Cowboys Lining Up to Buy Cattle in Uruguay

  • How Employers Benefit From Offering Unlimited Paid Time Off

  • The Rise of the LinkedIn B2B Influencer

©2022 Bloomberg L.P.


More Related News

OPEC+ Plans to Hold In-Person Oil Meeting Next Week in Vienna
OPEC+ Plans to Hold In-Person Oil Meeting Next Week in Vienna

(Bloomberg) -- OPEC+ plans to hold its first in-person meeting next week since March 2020, according to delegates, as the cartel weighs cutting oil...

China and India abstained on a vote to condemn Russia
China and India abstained on a vote to condemn Russia's annexation of Ukraine's land just weeks after Putin acknowledged their concerns about the war
  • World
  • 2022-10-01 05:38:48Z

China and India, key partners of Russia, declined to vote on a UN resolution that condemned Putin's "illegal" annexation.

Financial Stability Keeping Thailand From Raising Rates Too Fast
Financial Stability Keeping Thailand From Raising Rates Too Fast

(Bloomberg) -- The need for financial stability, one of the three main objective of the Bank of Thailand, is keeping monetary policy makers in the Southeast ...

Activision's Compliance Chief Steps Down Ahead of Microsoft Deal

(Bloomberg) -- Activision Blizzard Inc.'s chief compliance officer, who drew scrutiny over her response to sexual assault allegations last year, is stepping ...

Leave a Comment

Your email address will not be published. Required fields are marked with *

Cancel reply


Top News: Business