North News
New Delhi, December 16
Recognising shared security interests of India and Sri Lanka, Prime Minister Narendra Modi and President of Sri Lanka Anura Kumara Disanayaka on Monday acknowledged the importance of regular dialogue based on mutual trust and transparency and giving primacy to each other’s security concerns. As natural partners, both leaders underscored the common challenges faced by the two countries in the Indian Ocean Region and reaffirmed their commitment to work together in countering traditional and non-traditional threats as well as to ensure a free, open, safe and secure Indian Ocean Region.
India being Sri Lanka’s closest maritime neighbour, President Disanayaka reiterated Sri Lanka’s stated position of not permitting its territory to be used in any manner inimical to the security of India as well as towards regional stability. Expressing satisfaction at the ongoing defence cooperation in training, exchange programs, ship visits, bilateral exercises and assistance to augment defence capabilities, both leaders agreed to advance maritime and security collaboration.
Both leaders noted that the effective and timely implementation of agreed measures, as outlined, would deepen the bilateral ties between the two countries and transform the relationship into a new standard for friendly and neighbourly ties. Both the leaders directed their officials to initiate necessary measures for implementation of the understandings and agreed to extend guidance, where required. They further resolved to continue engagement at leadership level to qualitatively enhance bilateral ties that are mutually beneficial, cater to sustainable developmental needs of Sri Lanka and contribute to the stability of the Indian Ocean Region. President Disanayaka invited Prime Minister Modi to pay a visit to Sri Lanka at his earliest convenience.
Prime Minister Modi and President of Sri Lanka Disanayaka had comprehensive and fruitful discussions at their meeting in New Delhi on Monday. The two leaders reaffirmed that the India-Sri Lanka bilateral partnership is underpinned by deep-rooted cultural and civilizational ties, geographical proximity and the people-to-people relation.
President Disanayaka conveyed his deep appreciation for the unwavering support extended by India to the people of Sri Lanka during and after the unprecedented economic crisis in 2022. Recalling his profound commitment to fulfilling the aspirations of the Sri Lankan people for a prosperous future, greater opportunities, and sustained economic growth, he looked forward to India’s continued support for the achievement of these objectives. Prime Minister Modi assured President Disanayaka of India’s full commitment in this regard, in keeping with the special place Sri Lanka occupies in India’s ‘Neighbourhood First’ policy and ‘SAGAR’ vision.
Both leaders acknowledged that bilateral ties had deepened over the years and contributed significantly to the socio-economic development of Sri Lanka. Underscoring the potential for further cooperation, both leaders affirmed their commitment to progress the relationship between India and Sri Lanka to a mutually beneficial comprehensive partnership for the well-being of the peoples of the two countries.
President Disanayaka thanked Prime Minister Modi for India’s support in stabilizing the Sri Lankan economy through unparalleled and multi-pronged assistance including emergency financing and forex support worth USD 4 billion. He acknowledged India’s crucial assistance in Sri Lanka’s debt restructuring process, including as co-chair of the Official Creditors’ Committee (OCC), as being instrumental in finalising the debt restructuring discussions in a timely manner. He further thanked the Government of India for extending financial assistance of USD 20.66 mn to settle payments due from Sri Lanka for projects completed under existing Lines of Credit thereby significantly reducing the debt burden at a critical time.Underscoring the close and special ties with Sri Lanka, Prime Minister Modi reiterated India’s consistent support to the country in times of need and in its quest for economic recovery and stability, and prosperity for its people. The leaders instructed officials to finalize discussions on the bilateral MoU on Debt Restructuring.
Both leaders agreed that a strategic shift from debt-driven models towards investment led partnerships across different sectors would ensure a more sustainable path to economic recovery, development and prosperity in Sri Lanka.
Emphasizing the need for reliable, affordable and timely energy resources for ensuring energy security and meeting basic needs of the people, both leaders underscored the importance of strengthening cooperation in the energy sector and facilitation towards timely implementation of ongoing energy cooperation projects between India and Sri Lanka. In this regard, the leaders agreed to Take steps towards the implementation of the solar power project in Sampur and further augment its capacity as per the requirements of Sri Lanka, Continue consideration of the several proposals which are in different stages of discussion including, supply of LNG from India to Sri Lanka, establishment of a high-capacity power grid interconnection between India and Sri Lanka, cooperation amongst India, Sri Lanka and UAE to implement a multi-product pipeline from India to Sri Lanka for supply of affordable and reliable energy, joint development of offshore wind power potential in Palk Straits, while prioritizing environmental protection including fauna and flora,acknowledging the ongoing cooperation in the development of Trincomalee Tank Farms, both leaders decided to support the development of Trincomalee as a regional energy and industrial hub.
