Japan urges team effort “to counter China’s presence” in Sri Lanka
A top Japanese industry chief has called for “joint-action with other like-minded countries” to counter China’s growing influence in Sri Lanka revealing the island-nation’s leadership would welcome such an initiative as it looks for more investment from the private sector in Japan.
“We must not stand against China or confront China. It is very difficult for individual countries to act on their own, and we should approach China (its business initiatives in Sri Lanka) with other like-minded countries and take joint-action,” said Dr. Akio Mimura, chairman of the Japan Chamber of Commerce and Industry.
He led a 77-strong delegation of captains and heads of Japanese industry to Colombo this week as they made a pitch for business in Sri Lanka as well as welcomed local companies to look at Japan as an export market. He also stressed the urgent need for an improved “business-friendly environment” in Sri Lanka.
Among the high-powered delegation were giant corporates like Mitsubishi, Mitsui, Sumitomo, Honda, Japan Airlines, The Bank of Tokyo, Marubeni and Tokyo Gas most of them represented by the chairmen and CEOs.
Japan and its ally the US, as well as regional power India, are highly concerned over China’s growing influence in Sri Lanka. The island is a vital cog in China’s new silk route, the One Belt One Road plan, and this has led to increased traffic from Tokyo over the past few months. Earlier this month, Taro Kono was the first Japanese Foreign Minister in 15 years to visit Colombo. Dr. Mimura’s delegation was the biggest group of Japanese investors since 1979.
“What is important is that we recognise a free trade economy and we should promote strong cooperation with other countries and work with them. Sri Lanka’s leaders share the same thought as us and I was impressed by this,” Dr. Mimura told international and local media on Thursday.
During the two-day visit Dr. Mimura, who is also the chairman of the powerful Tokyo Chamber of Commerce and Industry, met President Maithripala Sirisena and Prime Minister Ranil Wickremesinghe.
It is understood that the increased interest in Sri Lanka is largely due to growing interest for Japanese corporates to tap into India’s 1.2 billion marketplace as well as the rest of South Asia through Colombo.