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The agreement provided provisions for renewal by mutual consent, and it was renewed every five years for six times, and was in effect until 1982.
The Sino-Lanka Rubber Rice Pact (as it was popularly known) was the most beneficial and successful trade agreement negotiated by then Ceylon and had been in operation for 30 years.
And the “Ceylon – China Rubber – Rice Pact” was signed between the two countries on December 18, 1952, in Peking, China.
The pact was initially made effective for a period of five years, with the quantities of imports and exports to be balanced annually.
Thus, Sri Lanka had to face a severe economic crisis.Galle Road begins at Galle Face, somewhere at the roundabout, in front of the old Parliament building at the entrance to the Fort, and stretches its tired asphalt tracks all the way to the town of Galle, almost 100 km down south hugging the coastline like a leech all the way through.It takes two lanes of traffic, one up and one down, driving anyone standing in the middle to cross into madness and jitters until the person gets safely across to the other side.Since of late the section within the District of Colombo has been divided in the middle by an island, thereby, preventing those crazy over-takers from displaying their antics on the middle of the highway.At Bambalapitiya, similar to many of the other towns along Galle Road in Colombo, parallel streets, commonly referred to as lanes interspaced by a few blocks of land and residential houses, ran down to the beach from the Galle Road.