FINANCIAL CHRONICLE™
Dear Reader,

Registration with the Sri Lanka FINANCIAL CHRONICLE™️ would enable you to enjoy an array of other services such as Member Rankings, User Groups, Own Posts & Profile, Exclusive Research, Live Chat Box etc..

All information contained in this forum is subject to Disclaimer Notice published.


Thank You
FINANCIAL CHRONICLE™️
www.srilankachronicle.com


Join the forum, it's quick and easy

FINANCIAL CHRONICLE™
Dear Reader,

Registration with the Sri Lanka FINANCIAL CHRONICLE™️ would enable you to enjoy an array of other services such as Member Rankings, User Groups, Own Posts & Profile, Exclusive Research, Live Chat Box etc..

All information contained in this forum is subject to Disclaimer Notice published.


Thank You
FINANCIAL CHRONICLE™️
www.srilankachronicle.com
FINANCIAL CHRONICLE™
Would you like to react to this message? Create an account in a few clicks or log in to continue.
FINANCIAL CHRONICLE™

Encyclopedia of Latest news, reviews, discussions and analysis of stock market and investment opportunities in Sri Lanka

Click Link to get instant AI answers to all business queries.
Click Link to find latest Economic Outlook of Sri Lanka
Click Link to view latest Research and Analysis of the key Sectors and Industries of Sri Lanka
Worried about Paying Taxes? Click Link to find answers to all your Tax related matters
Do you have a legal issues? Find instant answers to all Sri Lanka Legal queries. Click Link
Latest images

Latest topics

» EXPO.N - Expo Lanka Holdings De-Listing
by glad Today at 9:27 am

» Sri Lanka: Stock Market Fraudsters with Criminal Prosecutions
by D.G.Dayaratne Yesterday at 7:28 am

» hSenid Business Solutions(HBS)
by K.R Fri May 17, 2024 9:08 am

» CBSL Pension Fund vs EPF
by God Father Thu May 16, 2024 9:13 am

» Nations Trust Bank: Consistent growth
by ErangaDS Wed May 15, 2024 8:46 am

» SOFTLOGIC LIFE INSURANCE PLC (AAIC.N0000)
by soileconomy Wed May 15, 2024 4:01 am

» Falsified accounts and financial misrepresentation at Arpico Insurance PLC (AINS)
by DeepFreakingValue Tue May 14, 2024 12:20 am

» Potential Super Gain with HSIG
by Investment 1st Mon May 13, 2024 12:20 am

» ජනාධිපතිවරණය - 2024
by ChooBoy Sat May 11, 2024 11:20 pm

» The IMF's Monumental Malpractices and future of Sri Lanka
by ChooBoy Sat May 11, 2024 11:18 pm

» Sri Lanka: Policy Challenge Addressing Poverty Vulnerability as the Economy Recovers
by ResearchMan Fri May 10, 2024 12:20 pm

» SINS - the Tailwind effects of a crisis hit Economy
by Equity Win Thu May 09, 2024 7:37 pm

» TAFL is the most undervalued & highly potential counter in the Poultry Sector
by atdeane Thu May 09, 2024 7:09 pm

» Sri Lanka: Country Information Report
by God Father Thu May 09, 2024 5:22 pm

» Sri Lanka polls could risk economic recovery
by God Father Thu May 09, 2024 5:12 pm

» AGSTAR PLC (AGST.N0000)
by ResearchMan Thu May 09, 2024 12:21 pm

» Browns becomes world’s biggest tea exporter in deal with LIPTON
by sureshot Wed May 08, 2024 9:51 pm

» Colombo Stock Market: Over Valued against USD!
by ResearchMan Wed May 08, 2024 12:49 pm

» COCR IN TROUBLE?
by D.G.Dayaratne Mon May 06, 2024 9:31 am

» Maharaja advise - April 2024
by celtic tiger Tue Apr 30, 2024 12:01 am

» Srilanka's Access Engineering PLC think and Win
by Dasun Maduwantha Mon Apr 29, 2024 11:40 pm

» PEOPLE'S INSURANCE PLC (PINS.N0000)
by ErangaDS Fri Apr 26, 2024 10:24 am

» UNION ASSURANCE PLC (UAL.N0000)
by ErangaDS Fri Apr 26, 2024 10:22 am

» ‘Port City Colombo makes progress in attracting key investments’
by samaritan Thu Apr 25, 2024 9:26 am

» Mahaweli Reach Hotels (MRH.N)
by SL-INVESTOR Wed Apr 24, 2024 11:25 pm

LISTED COMPANIES

Submit Post
ශ්‍රී ලංකා මූල්‍ය වංශකථාව - සිංහල
Submit Post


CONATCT US


Send your suggestions and comments

* - required fields

Read FINANCIAL CHRONICLE™ Disclaimer



EXPERT CHRONICLE™

ECONOMIC CHRONICLE

GROSS DOMESTIC PRODUCT (GDP)



CHRONICLE™ YouTube


You are not connected. Please login or register

Port city gives aviation access to China

Go down  Message [Page 1 of 1]

1Port city gives aviation access to China Empty Port city gives aviation access to China Tue Mar 17, 2015 11:25 pm

Teller

Teller
Moderator
Moderator

The Colombo Port City project has run into a fresh snag with Sri Lanka`s Civil Aviation Authority pointing out to the government that the air space over the Chinese held area will exclusively be held by China.

According to Article 01 and 02 of the Convention on the Civil Aviation which was signed in Chicago in 1944 - to which Sri Lanka is signatory - China will have exclusive rights over the air space above the plot of land of the Colombo Port City, which was given to China on an outright basis. According to the Colombo Port City proposed deal, 108 hectares would be given to the Chinese firm, including 20 hectares on an outright basis and the rest on a 99-year lease.

Article 01 of the Chicago Convention says, `the contracting states recognize that every State has complete and exclusive sovereignty over the airspace above its territory.` Explaining it further, Article 02 of the Convention states the territory of a state shall be deemed to be the land areas and territorial waters adjacent thereto under the sovereignty, suzerainty, protection or mandate of such state.

Both Civil Aviation Act No. 14 of 2010 and Air Navigation Act No. 15 of 1950 were enacted in line with the Chicago Convention of Civil Aviation, making Sri Lanka bound to the terms of the international convention to which 191 countries are signatories.

The Civil Aviation Authority`s argument has sent shock waves through the new government as to how the previous government had entered into an agreement with China without scrutinizing the convention and the Civil Aviation Act.

Sri Lanka`s neighbour India earlier raised security concerns over the project as a large portion of cargoes bound for India are transshipped through the Colombo Port. However, diplomatic sources told the Daily News that this air space issue could also be a major concern for India.

The Sri Lankan government has already decided to temporarily suspend the Colombo Port City project until the conclusion of ongoing inquiries. Commenting on the matter, several ministers of the present government had already told media that the project might not go ahead if it failed to get through the inquiries conducted by the new government. Reuters

Back to top  Message [Page 1 of 1]

Permissions in this forum:
You cannot reply to topics in this forum