Indian companies ready to invest in Sri Lanka

High Commissioner of India Gopal Baglay said noted Indian companies are ready to invest in the priority sectors identified by the Government of Sri Lanka

May 29, 2020
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High Commissioner of India Gopal Baglay said noted Indian companies are ready to invest in the priority sectors identified by the Government of Sri Lanka.

According to a statement from the India High Commission in Colombo, the High Commissioner paying a courtesy call on President Gotabaya Rajapaksa had conveyed the greetings of the leadership of India to the President and the people of Sri Lanka.

President Sirisena had thanked the Government of India for assisting Sri Lanka in dealing with the COVID19 pandemic and stated he looks forward to further strengthening all-round bilateral cooperation between India and Sri Lanka.

The High Commissioner noted the recent high-level interaction between the two countries had given a further impetus to the traditionally close and excellent relationship.

The Indian High Commission said it was agreed to accelerate India’s participation in Sri Lanka’s post-COVID economic recovery, including through development partnership projects in Sri Lanka and cooperation in trade, commerce, and new areas with particular reference to Sri Lanka’s requirements.

President and the High Commissioner also discussed ways to further expand and strengthen the ongoing close cooperation in the fields of defense and security including the exchange of experience, expertise and information; and joint efforts to tackle common threats such as terrorism.

The President and the High Commissioner further noted the shared heritage of Buddhism and the civilizational links between India and Sri Lanka provide a robust platform for bringing the two peoples even closer.

The High Commissioner also thanked the President for Sri Lanka’s assistance in the repatriation of stranded Indian nationals from Sri Lanka to India.

India has agreed to increase its participation in Sri Lanka’s post-COVID-19 economic recovery, and to strengthen defence and security cooperation, the Indian High Commission to Sri Lanka said.

The agreement had been reached during a meeting between President Gotabaya Rajapaksa and India’s newly appointed High Commissioner Gopal Bagley on Friday.

“…it was agreed to accelerate India’s participation in Sri Lanka’s post-COVID economic recovery, including through development partnership projects in Sri Lanka and cooperation in trade, commerce and new areas,” the high commission noted.

Bagley had told the President that Indian companies are ready to invest in the priority sectors identified by the Sri Lankan government.

Both officials had also discussed expanding and strengthening defence cooperation by the “exchange of experience, expertise and information, and also joint efforts to tackle common threats such as terrorism.”

Sri Lanka which is expected to see economic growth declining to 1.5 percent by 2020, according to the central bank, is facing an economic crisis, with at least 4.8 billion dollars to be settled in foreign debt.


https://www.newsfirst.lk/2020/05/29/india-pledges-to-support-sri-lankas-economic-recovery/

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