News
Foreign Minister Herath sees immense potential in Indo-Lanka trade dynamics
View(s):The trade dynamics between India and Sri Lanka have immense potential, Foreign Minister Vijitha Herath said.
India is one of Sri Lanka’s largest trading partners, providing essential imports that support various sectors including agriculture, health and infrastructure. In return, Sri Lanka offers India strategic access to its markets and resources, enhancing its own economic landscape, the Foreign Minister added. He was speaking during a function organised by the Sri Lanka-India Society on Friday to mark the 78th Independence Day of India.
Members of Sri Lanka- India society and Foreign Minister Vijitha Herath
The close ties between the two nations holds immense promise for the future, the minister remarked. “The total two-way trade has increased over the years. Beyond traditional trade, we are also witnessing a growing interest in investment and technology exchange. Indian companies are increasingly investing in such key sectors. As economies in the global south, Sri Lanka values the partnership with India in the economic front.”
The minister further noted that last year, Sri Lanka’s highest tourism footfall was from India, amounting to approximately 300,000. “However, for a nation with a population of 1.4 billion, there is tremendous scope to promote tourism with increasing air connectivity between our two countries.”
India has always stood by Sri Lanka as a close friend, said the Foreign Minister. “The Government of India under Prime Minister Narendra Modi Neighbourhood First Policy and SAGAR framework has further consolidated our ties and expanded cooperation. We recall the tremendous support extended by India following Sri Lanka’s recent economic crisis and the support extended for our debt restructuring arrangement with the IMF,” he added.
Presentation of a memento
Mr Herath recalled that India’s Minister of External Affairs Dr S Jaishankar was the very first high-level foreign dignitary to visit Sri Lanka after the new government assumed office. This visit is a manifestation of the close bilateral ties between the two nations, he emphasised.
“Our cooperation in the multilateral fora has also been strengthened in recent years and we look forward to close cooperation through regional fora,” the minister added.
Mr Herath noted that the year is also significant for the Sri Lanka-India Society as it celebrates its 75th anniversary of establishment. He offered his congratulations to the society on reaching this milestone.
Indian High Commissioner Santosh Jha spoke of the deep bonds between India and Sri Lanka, which are “Inseparable and inextricable.”
He noted that India-Sri Lanka relations now have a very wide gamut. “There is hardly any aspect of human endeavour that does not touch our relationship,” he said, pointing out that this extends to energy, building connectivity, bringing greater transparency through digitisation, defence and security or purely trade, investment and economic partnerships.
“We are at a very important juncture at our relationship. I have nothing but optimism to convey to you,” stressed High Commissioner Jha. He added that the relationship between the two countries has never been better than what it is today. He expressed the belief that it would go further and further. “That is the only option, the only way both countries can aspire to a shared future. That is, I think, our destiny,” he said.
The best way to say that you found the home of your dreams is by finding it on Hitad.lk. We have listings for apartments for sale or rent in Sri Lanka, no matter what locale you're looking for! Whether you live in Colombo, Galle, Kandy, Matara, Jaffna and more - we've got them all!