Rubber-Rice Agreement Of 1952

China will always be a major trading partner of Sri Lanka. China, as has already been mentioned, including Hong Kong, which exports mainly Chinese products, is the largest import supplier to Sri Lanka. In 2001, China, including Hong Kong, accounted for 13.4% of our total imports, compared with 11.1% from India and 6.2% from Japan. But when it comes to exports, China and Hong Kong account for only a very small amount – only 1.2% of our total exports. We want to play a role in China`s rapid growth; We want China to buy more of our exports while investing in new industries to expand and diversify our export structure. We must therefore strengthen and develop our existing economic relations, if necessary through a new trade and investment agreement, to ensure that Sri Lanka is focused on its great march towards the status of economic superpower. However, Prime Minister Dudley Senanayake fully supported his Minister of Trade and agreed to pay the price; He realized that the benefits that Sri Lanka far outweighed the benefits of the agreement outweighed the losses that were blamed for the reduction in U.S. aid. He argued that the ceylon model has been knocked out by changes in the global market and we need to look for new markets for our basic food needs and exports. 1952 was a very bad year for Sri Lanka.

Prime Minister D. S. Senanayake was dead and Dudley Senanayake had just formed a new government as the country faced a global rice shortage. The government was then required to provide each adult with two measures of rice per week at a subsidized price, but rice was not available from traditional suppliers – Burma, Thailand and Indo-China – and the world price of rice had increased by 38 per cent between 1951 and 1952. As a result, Sri Lanka was forced to purchase 60,000 tonnes of rice from the United States and 10,000 tonnes from Ecuador at high prices, although this variety of rice was not suitable for the Sri Lankan palate. However, it was unable to buy all the rice it needed at this high price, as its foreign exchange resources were limited; Moreover, the distribution of this rice would have led to the calculation of food subsidies at an unbearable level. (8) The trade agreement laid the groundwork for the expansion of trade between Sri Lanka and China, even after the cessation of the trade agreement. For example, in 2001, China and Hong Kong (which again exports mainly Chinese products) were the main suppliers of imports to Sri Lanka worth 64 billion euros. He said the agreement could be considered the longest trade agreement and therefore could be recognized as a “friendship agreement.” He also stressed that this historic rubber-rice pact not only helped both nations achieve their economic goals, but also strengthened the long-standing friendship between two nations and proudly declared that this friendship will last a long time in the years to come. By Scandinavian Gunasekara The Sino-lankic rubber-rice pact has been one of the most useful and successful trade agreements in the world, Parliament Speaker Karu Jayasuriya said yesterday. On the 65th anniversary of the historic 1952 pact, spokesman Jayasuriya said the 30-year agreement was an excellent example of the success of the trade agreement. The spokesman said the agreement was signed at a time when Sri Lanka was facing a severe economic and agricultural crisis and that China had agreed to help supply rice in exchange for Sri Lankan rubber.

“I would not call it a trade agreement, but a friendship agreement,” the spokesman said. This is the case where China agreed to buy, under the pact, a rubber of 1.74 lots per pound, when the price of rubber was 1.07%. per pound of rubber. “In the same way, we were able to buy rice at a lower price, well below world market prices. That`s why I say it`s a friendship-based agreement,” the spokesman said, adding that China has lent through Rs.

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