Sri Lanka and India to boost bilateral ties and investments between the two countries
Sri Lanka and India are focused on further strengthening bilateral, trade and investment ties with India. This was discussed between and Indian delegation led by Indian Foreign Secretary Harsh Vardhan Shringla and Sri Lanka’s Finance Minister Basil Rajapaksa.
The discussion took place during Shringla’s recent visit to Sri Lanka.
Rajapaksa and Shringla have discussed the ongoing global situation and ways to further strengthen bilateral relations.
The Finance Minister had appreciated India’s support to Sri Lanka as a regional powerhouse as well as a neighbouring country in the face of the COVID-19 pandemic.
Rajapaksa has also highlighted further strengthening bilateral ties through mutual understanding.
The Indian Foreign Secretary has assured to provide the necessary assistance to Sri Lanka’s economy affected by the pandemic.
Shringla has further noted that he was looking into the possibility of attracting the Indian business community to explore investment opportunities in Sri Lanka.
Indian Deputy Foreign Secretary Nidhi Chowdhury, Indian High Commissioner Gopal Bagle, and Treasury Secretary S. R. Attygalle were also present at the meeting.
Meanwhile, Sri Lanka’s President Gotabaya Rajapaksa is confident of stronger ties with India.
The President has extended an open invitation to investors saying Sri Lanka needs the neighbouring India’s help.
The President has also said that the people in the two countries should be properly apprised regarding the decisions taken by the two countries in reaching an agreement.
OSL take:
Sri Lanka and India enjoy strong historical bilateral and trade ties that have been further boosted by an operational free trade agreement (FTA). India is also one of Sri Lanka’s top development partners with participation in many development programmes in the island. Sri Lanka’s geographical positioning in the Indian Ocean and the many trade agreements as well as concessions enjoyed by the country along with a positive ease of doing business environment, Sri Lanka has posed the ideal business/investment destination for Indian businesses/investors. Given the strong ties between the two countries and Sri Lanka’s growing business potential, Indian businesses/investors could therefore explore the growing business/investment opportunities in Sri Lanka.
| Article Code : | VBS/AT/12102021/Z_2 |