Webinar to facilitate stronger Indo-Lanka economic ties

Another webinar the Foreign Ministry was engaged in was one on “Deepening Economic Collaboration between India and Sri Lanka." It was organised by the Federation of Indian Chambers of Commerce and Industry ( FCCI) jointly with the Lakshman Kadirgamar Institute of International Relations and Strategic Studies ( LKIIRSS) and was held on Tuesday.

Foreign Secretary Ravinath Aryasinha deputised for Minister Dinesh Gunawardene who backed out at the l a s t m i n u t e. M r Aryasinha spoke of the Government’s commitment to "facilitating, protecting and promoting the liberal investment climate in Sri Lanka."

It was an interesting pitch to India which is already nervy about Chinese in- roads to Sri Lanka’s economy and particularly right now considering the goingson at the Colombo port's East Terminal where there is a mini IndoChina power struggle taking place.

I n d i a ’ s new High Commissioner Gopal Bagley referred to the need for policies oriented to the f u t u r e. “Balancing economic security was a key area," he pointed out.

The FCCI President Dr. Sangita Reddy, daughter of Dr. Prathap C. Reddy who began the famous Apollo Hospital chain in India and opened a branch in Colombo, highlighted the strong friendship between the late Sri Lankan Foreign Minister Lakshman Kadirgamar and his wife, Suganthie with her family. It was the late Minister Kadirgamar who was instrumental in convincing the Reddy family to invest in a hospital in Sri Lanka. She said that healthcare and pharma were potential sectors of collaboration between India and Sri Lanka.

The webinar comes in the backdrop of a "technical discussion" through a video conference this week between Sri Lankan officials of the Foreign and Finance ministries of both countries on rescheduling Sri Lanka’s outstanding debt repayment. Sri Lanka owes India US$ 960 million.