The ministry said the decision was taken following talks held between a Chinese government delegation and State Minister of National Policy and Economic Affairs Niroshan Perera, reports Xinhua news agency.
Zhou Liujun, head of the Department of Outward Investment and Economic Cooperation of China’s Ministry of Commerce, met the state minister and discussed Chinese investments in Sri Lanka.
The State Ministry of National Policy and Economic Affairs said at the talks it was proposed to finalize a trade and economic pact between China and Sri Lanka.
Sri Lanka is home to a large Chinese community. Chinese tourist arrivals to Sri Lanka has also seen a rise this year.