New Delhi: The economic roadmap mapped by India and Sri Lanka, who have seen many steps by the former to reduce the neighboring debt crisis on the island, will help overcome the trust deficit between 2 countries and also provide concerns “peripher” of Chinese activities in this country, High Commissioner Lanka Milinda Moragoda said Wednesday.
Speaking with Toi from Colombo, the day after India announced a $ 500 million credit line to help Sri Lanka buy petroleum products, Moragoda said President Gotabaya Rajapaksa was an attempt to restructure the Lankan economy and that India would be the key to this process.
“Once we start working in the push sector such as electricity, where the relationship with India, there will be no need for this problem.
We must continue the plan, remain determined and the rest will follow,” Moragoda said, adding important to move quickly from transactional to Strategic Phase Relationship.
High Commissioner identifies petroleum and gas, electricity, port and connectivity, export, manufacturing and tourism among the main thrust regions for cooperation that can raise relationships with “real and meaningful ways”.
While many who saw China’s loan easily because they had triggered the economic crisis of Sri Lanka, Moragoda said that economic difficulties today were the results of many years of expenditure expenditure and those that blamed other countries for it did not make sense.
“The main problem here, as I see, is that India is our new economic key.
India will help us out of this if we can accelerate cooperation in the thrust area.
Sri Lanka’s main economic sector for recovery.
Being tourism and India is The biggest market there, “Moragoda said.
The government was worried that last year about the speed of the Lanka government was speeding up work on Chinese projects even when walking out of the agreement with India and Japan to develop the East Container Terminal (etc.) at the Port of Colombo.
Trincomalee oil farming project is seen as an example of a lack of progress in bilateral projects that are of India’s concern.
Things seemed to look at Sri Lanka turned to India to get help in the face of the crisis.
Viewed as significant for bilateral energy security, the agreement proposed for the development of the Trincomalee Tank farm was approved by Sri Lanka earlier this month.
Moragoda said work was also expected to begin next month at Western Container Western Colombo (WCT) terminal which will be developed by the Adani Group.
Finance Minister Lanka Basil Foreign Minister who is guaranteed from Jaisankar is guaranteed that Colombo will work to create conditions that are conducive to Indian investment in various sectors.
During the basil visit to India last month, India and Sri Lanka have identified “4 pillars” for economic involvement which will also help revive Lanka’s economy.
This includes a food and health security package with an urgent basis, an energy security package that will include a credit line to cover fuel imports from India, offering currency exchange and also the facilitation of Indian investment in various sectors in Sri Lanka.
Moragoda said work on these pillars would help in “short-term stabilization” and focus on the “push area” in the medium term will ensure that Sri Lanka appears without injury from the current crisis.