Sri Lankans increasingly recognize that India is “a true friend” who they can "rely on at all time", Sri Lankan Foreign Minister G L Peiris said on Tuesday, appreciating the $2.4 billion assistance that New Delhi extended to the crisis-gripped country. He also added the ties between the two countries have moved from a “transactional relationship” to a “strategic partnership.”

Peiris on Tuesday concluded his first visit to India after being appointed as the foreign minister last year. The delegations of the two countries held extensive discussions on a range of issues, including “economic cooperation, power and energy cooperation, connectivity, people to people contact, etc.” 

Colombo also sought “ways and means to harness the growing Indian outward tourism to revive the tourism industry in Sri Lanka were also discussed.”

Peiris also extended an invitation to Indian External Affairs Minister S Jaishankar for visiting Sri Lanka in March. 

“Sri Lanka is very much looking forward to Hon. Prime Minister of India to visit Sri Lanka for the forthcoming BIMSTEC Summit in March 2022,” a statement released from the Sri Lankan High Commission in New Delhi reads. 

Foreign Minister Peiris also raised the fishing issue, calling it a “flashpoint" in the bilateral relationship. “It has become a recurring issue, assuming a different complexion. The two sides agreed on the urgent need to convene all bilateral mechanisms in this regard.” 

On the recently inked Trincomalee Oil Farm deal, where both countries agreed to jointly develop 61 oil tanks, Sri Lanka said it “signals a closer integration between two countries, resulting in substantial benefits, and a win-win situation for both." Talks were also held on cooperation in the renewable energy sector. 

Significantly, India had recently extended a $500 million line of credit to Sri Lanka, as part of its energy cooperation with Colombo, for the purchase of fuel. Gripped by the severe foreign exchange crisis, the Sri Lankan government was struggling to procure fuel and other essentials. 

During the talks, Sri Lanka also stressed on early finalization of several Memoranda of Understanding (MOUs) between the two countries. 

“The discussion centered on the potential for Indian investments in priority sectors such as pharmaceuticals, food processing, and manufacturing for which Minister Peiris invited Indian investments,” according to the statement. 

Peiris also met India’s National Security Adviser Ajit Doval on Tuesday.

Almost a year ago, when Sri Lanka unilaterally canceled the strategically important ECT deal, the ties between the two countries came under strain. However, the progress in the Indo-Sri Lanka ties, including the signing of several important deals, within a short span of time, signifies the importance of each other in the time of crisis, despite the growing Chinese footprint in Sri Lanka. 

(SAM)