India, Sri Lanka adopt vision document to expand economic partnership

India and Sri Lanka on Friday (July 21) adopted an ambitious vision document to significantly expand economic partnership after wide-ranging talks between Prime Minister Narendra Modi and Sri Lankan President Ranil Wickremesinghe.

In his statement released to the media, Modi referred to economic difficulties in Sri Lanka last year and said that India stood “shoulder-to-shoulder” with the people of the island nation during the crisis as a close friend.

The prime minister said that firming up of an agreement for launch of the UPI payment system in Sri Lanka would result in fintech connectivity between the two sides.

The past one year has been full of challenges for the people of Sri Lanka, he said, adding that being a close friend, as always, India stood shoulder-to-shoulder with the people of Sri Lanka.

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In his statement, Modi said that the security interests and development of India and Sri Lanka were intertwined and it was necessary to work together keeping in mind each other’s security interests and sensitivities.

Modi said a vision document for economic partnership, to accelerate mutual cooperation in areas of tourism, power, trade, higher education, skill development and connectivity, has been adopted.

The vision is to strengthen maritime, air, energy and people-to-people connectivity between the people of both countries, he said.

The prime minister also said that it was decided that talks will start soon on an agreement on economic and technological cooperation. He hoped that the Sri Lankan government would fulfill the aspirations of the Tamil community.

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Modi said a feasibility study will be conducted on the India–Sri Lanka petroleum pipeline.
On the fishermen issue, the prime minister said it should be handled using a humanitarian approach.

In his remarks, President Ranil Wickremesinghe said, “We believe that India’s growth would be beneficial to the neighbourhood and Indian Ocean Region.”

(With agency inputs)