Five bilateral agreements were signed between India and Sri Lanka to enhance economic ties and connectivity. The two nations are also looking into construction of a multi product gas pipeline from Southern India to Sri Lanka for supply of energy resources.
Jul 25,2023
Shri Narendra Modi and Sri Lankan President Mr. Ranil Wickremesinghe have reportedly signed five bilateral agreements to improve their economic ties through air and sea connectivity. The two nations have also agreed to conduct studies on pipelines and land bridges to strengthen their economic linkages. With Sri Lanka facing a severe economic crisis and rising external debt, India extended their help by providing monetary assistance of USD 4 billion. The main theme of President Ranil Wickremesinghe’s first visit to India would be connectivity.
Also Read: Shell, ONEE Sign 12-Year LNG Supply Agreement with Morocco
In order to strengthen maritime, air, energy, and people-to-people connectivity between the two neighboring countries, Prime Minister Shri Narendra Modi and President Wickremesinghe adopted a vision document titled,” Promoting Connectivity, Catalyzing Prosperity”. Initiation of a feasibility study for the gas pipeline was also announced by President Wickremesinghe to “ensure an affordable and reliable supply of energy resources to Sri Lanka.” Additionally, a discussion for the development of the northern port of Trincomalee as an “energy hub” was held, envisioning Trincomalee to become a national and regional center of industry, energy, and economic activity.
