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Sri Lanka sits astride the world's busiest shipping route, which links the Middle East and East Asia, giving its maritime assets strategic importance.

India has stepped up infrastructure projects in Sri Lanka in recent years, but China is Sri Lanka's largest bilateral lender, reports AFP.

Part anti-corruption crusader and part reformist, the village lad shattered the 76 years of elite politics by becoming the island’s 10th president last week.

In a brief speech after assuming duty, the new president pledged to work with others to take on the country's challenges.

His accession to the post is a remarkable turnaround for his half-century-old party Janatha Vimukthi Peramuna (JVP), which had long remained on the margins.