Qingdao held a business dialogue in Sri Lanka's capital Colombo on May 15. It was the eighth such activity along the maritime Silk Road since Qingdao implemented the Belt and Road Initiative this year, qdbofcom.gov.cn said.

Qingdao, a starting point of the Maritime Silk Road, and Sri Lanka, an ancient Buddhist center, have deep historical ties, said Li Qun, secretary of Qingdao municipal Party committee.

Li added that both sides have had more frequent contact. This activity will further cooperation in fishing, education, tourism and trade.

Abeysekera, president of Sri Lanka's China Business Council, said that Sri Lanka is a geographic link to Africa, Asia and Europe. In addition, Sri Lanka has signed trade agreements with South Asian countries. There is huge space for cooperation. Qingdao businesses will expand the global market through investing in Sri Lanka.

During the dialogue, both sides signed a memorandum for economic partnership. Qingdao businesses, including Haier, Aucma and Rubber Valley, signed agreements with Sri Lankan companies.