Japan-Sri Lanka ink two bilateral deals worth nearly ¥ 1 billion
Daily FT: Sri Lanka and Japan have exchanged notes for two projects under Japan’s Official Security Assistance (OSA) Programme and the Project for the Enhancement of Productivity in the Dairy Sector.
The agreements were signed by Japan’s Ambassador to Sri Lanka Akio Isomata and Foreign Affairs, Foreign Employment, and Tourism Minister Vijitha Herath in the presence of Japan’s Prime Minister Shigeru Ishiba, and President Anura Kumara Dissanayake during the latter’s official visit to Japan.
The Japanese Embassy in Colombo said the first OSA for Sri Lanka signifies that bilateral cooperation in security has entered a new phase.
Launched in 2023, OSA is a new grant aid cooperation framework of Japan to strengthen the security and deterrence capabilities of like-minded countries. OSA enables armed forces to be a recipient, differently from Official Development Assistance (ODA), which is for the economic and social development of developing countries.
Under this OSA Programme in the amount of ¥ 500 million (approximately Rs. 1 billion), two types of state-of-the-art Japanese-made Unmanned Aerial Vehicles UAVs for monitoring, surveillance and disaster relief will be provided to the Sri Lanka Navy. The project is expected to contribute to enhancing security of Sri Lanka, maintaining and strengthening regional stability.
Under the Grant Aid Project for the Enhancement of Productivity in the Dairy Sector, in the amount of ¥ 463 million (approximately Rs. 945 million), equipment such as real-time Polymerase Chain Reaction (PCR) equipment, sperm motility analyser system and four-wheel tractor as well as technical support will be provided to livestock facilities in Central Province, Northern Province, Eastern Province, North Central Province and North West Province.
The Project aims to improve milk productivity, and thereby contribute to inclusive economic development through improved livelihoods of small-scale dairy farmers in Sri Lanka.
“These milestone projects not only demonstrate Japan’s unwavering commitment to support Sri Lanka but also contribute to further developing bilateral relationship between Japan and Sri Lanka,” the Japanese Embassy said.
OSL take:
The further strengthening of bilateral relations between Sri Lanka and Japan serves to boost the confidence of Japanese businesses/investors to explore the expanding business/investment opportunities in Sri Lanka. Also, the financial assistance provided by Japan for Sri Lanka’s development programme also presents more business/investment opportunities. With Sri Lanka on the path to steady growth and a target of becoming a regional hub supported by the country’s geographical positioning in the Indian Ocean, strong trade ties enjoyed with many foreign countries and a business conducive environment, the increasing business potential presents many business/investment opportunities for foreign businesses/investors, especially for Japanese businesses/investors as well.
| Article Code : | VBS/AT/20251003/Z_4 |