China Merchants Port Holdings Co., Ltd., Sri Lanka Port Authority, and a local enterprise officially signed an agreement on the South Asian Trade and Logistics Center project in Colombo on the 21st, jointly building a modern multi-functional logistics center in the South Asian region. Sri Lanka's Minister of Ports, Shipping and Aviation, De Silva, and Chairman of China Merchants Group, Miao Jianmin, attended the project signing ceremony. De Silva said that the project will create a commercial and logistics center with regional first-class standards, helping Colombo Port become a more outstanding and competitive port. Miao Jianmin said that China Merchants Group will further strengthen cooperation with local enterprises in the future and make more contributions to the economic development of Sri Lanka. The South Asia Trade and Logistics Center project is located within the Colombo Port, with a total investment of 392 million US dollars. It is a multi-layered warehouse logistics project developed under the "construction operation transfer" model, which will carry out import and export container dismantling, bonded warehousing, free port business, warehouse leasing, and port trade logistics. The project partner has registered and established a joint venture in Sri Lanka. It is reported that the South Asian Trade and Logistics Center project can not only significantly improve the local logistics service level, but also attract more business and throughput for Colombo Port, consolidating its position as a hub port in South Asia. (New News Agency)