Lakshman Kadirgamar Institute launches academic study on BRI

The Lakshman Kadirgamar Institute of International Relations and Strategic Studies (LKI) and Chatham House, UK recently launched a major academic study on Chinese outbound investment and the Belt and Road Initiative (BRI).

This study adopts an evidence-based approach to look at the broad benefits and costs of the BRI to recipients in order to improve the implementation of future projects. Carefully reviewing the available data to shift out salient facts from popular misconceptions, the study will focus on Sri Lanka and international experience. The outcomes of this joint study will be published in mid-2019.

An inception event brought together a distinguished international and local experts for a roundtable on the (i) economic impact of the BRI and lessons for future investment, chaired by LKI Executive Director Dr. Ganeshan Wignaraja, (ii) social and environmental impact of the BRI and lessons for a sustainable future, chaired by Chatham House Asia-pacific Programme Head Dr. Champa Patel and (iii) BRI’S impact on governance and international relations, chaired by LKI Non-resident Fellow Dr. Dinusha Panditaratne.

International experts including from the Tsinghua University, Jawaharlal Nehru University, University of Dhaka, The Chinese University of Hong Kong, National University of Singapore, Kunming University of Science and Technology and the University of Nottingham were present at the event.

Foreign Affairs Ministry State Secretary and Sri Lanka Ambassador-designate to the EU and Belgium Grace Asirwatham and Centre for Policy Alternatives Executive Director Dr. Paikiasothy Saravanamuttu gave introductory remarks.

China’s BRI initiative—currently in its fifth year of implementation—is the largest infrastructure initiative the world has seen since the Marshall Plan by the US to rebuild Europe after WWII.

The BRI aims to connect Asia with Africa and Europe via land and maritime networks along six corridors with the aim of improving regional integration, increasing trade and stimulating economic growth.

Sri Lanka’s strategic geographical location places it along East-west lanes on the BRI map—the Hambantota port which pre-dates the BRI initiative and the recent Colombo Port City project are some of the noted projects linked to this initiative.

Other BRI port projects include Piraeus Port in Greece, Gwadar Port in Pakistan and Darwin Port in Australia.