New Delhi: The India-Sri Lanka free trade agreement (FTA), signed way back in 1998, “needs to be upgraded”, Sri Lankan Prime Minister Harini Amarasuriya said on Friday.
In her address at NDTV World Summit here, she also said that as the island nation rebuilds, its partnership with India has “evolved into a forward-looking, multi-faceted collaboration in every conceivable area”.
Amarasuriya is on a three-day visit to India from October 16-18, her first official tour to the country after assuming office as the prime minister.
Recalling her experiences in Delhi, Amarasuriya described the city as a place of formative memories and significant change. She acknowledged India’s transformation into a vibrant nation of 1.4 billion people, highlighting its rapid economic growth and initiatives in digitalization, green transition, and infrastructure development.
The Prime Minister stated that India’s journey provides valuable lessons for developing countries like Sri Lanka. She outlined the evolving partnership between India and Sri Lanka, which encompasses development cooperation, capacity building, energy security, digitalization, education, trade, investment, defense, tourism, and cultural exchange.
Amarasuriya reiterated the importance of upgrading the FTA to enhance Sri Lanka’s integration into India’s manufacturing and service sectors. She discussed the summit’s theme, ‘Risk, Resolve, Renewal,’ which reflects the unpredictable nature of current global challenges, including pandemics and geopolitical shifts.
She acknowledged that while uncertainty presents risks, it also creates opportunities for innovation and reimagining possibilities. Amarasuriya stressed the need for leaders to recognize that risk can be perceived differently among various groups and emphasized the importance of protecting vulnerable populations.
Addressing the recent socio-political landscape in Sri Lanka, she referred to the Aragalaya protests of early 2022, which were a response to economic hardships. These protests reshaped public discourse and political dynamics, illustrating the resilience of democracy in Sri Lanka.
Amarasuriya highlighted India’s role as Sri Lanka’s largest trading partner, primary source of tourism, and significant investor. She expressed Sri Lanka’s ambition to develop a maritime hub for the Indian Ocean Region, facilitating global trade through its strategic ports. Additionally, she underscored the shared concern for Indian Ocean security, advocating for continued collaboration in maritime security and regional energy cooperation.
