India, Sri Lanka sign 7 MoUs including first ever defence deal

India Today

Prime Minister Narendra Modi and Sri Lankan President Anura Kumara Dissanayake signed seven MoUs, marking a new phase in bilateral ties. Notably, the agreements include the first-ever defence deal between the two nations.

Transcript

00:00Geeta, what I want to ask you is that do you think that there will be any follow-up on

00:04previously signed MOUs, you know, especially in the post-COVID recovery phase?

00:08Because earlier also we've seen that India has bailed out Sri Lanka in the past, after

00:13COVID as well, the $4 billion aid to Sri Lanka.

00:16What can you tell us about the follow-up on previously signed MOUs?

00:20Well, that happens on a regular basis.

00:25There's always a review of all the agreements and MOUs that have been signed in the past,

00:29and it's a work in progress, it continues.

00:34But it's about going forward from here, and when new fresh MOUs are signed, they're signed

00:39in the same sectors, the sectors don't change.

00:41If last time around, because of the COVID pandemic, there was a lot of understanding

00:47and agreements and exchange between the two sides on vaccines, on medicine, this time

00:54around it's about healthcare.

00:55We do have the list of MOUs and agreements that have been signed, and like we were saying,

01:03there is one on import-export of power.

01:05The energy cooperation is a very significant part of cooperation between the two countries.

01:12They're also looking at cooperation in the field of sharing successful digital solutions.

01:17Like I said, digitalization is going to be a very important part.

01:20Then there is also another one, which interestingly is not bilateral, it's trilateral.

01:25Trincomalee Business Hub and Energy Hub is not just going to be an India-Sri Lanka venture,

01:31it's going to be an India-UAE-Sri Lanka venture.

01:35So in the signing ceremony, we also had a representative from the United Arab Emirates

01:41who was there during the exchange of documents, so that's interesting, it's not just bilateral,

01:48they're looking at trilateral, getting in partners and allies to come work in Sri Lanka,

01:54for the prosperity and development of Sri Lanka.

01:56This is the Trincomalee Energy Hub that both countries were looking at,

02:01and now they've also roped in the United Arab Emirates.

02:05There is also an MOU between the two countries on defense cooperation that finally has been signed

02:11on dotted lines, and the exchange took place between Air Vice Marshal Sampath

02:18and Secretary in the Ministry of Defense,

02:21and KMM Sri Vardhana, who is from the Indian side, it was Foreign Secretary Vikram Mistry.

02:30Then there is another on grants and assistance for the eastern province, very important for India.

02:35India will look at the Tamil outreach, and this is that Tamil outreach.

02:39There have been multi-sectoral aid and assistance that has been provided to Sri Lanka on that front.

02:47In the past as well, and you asked about agreements and MOUs that have been signed in the past,

02:52there's a regular review that happens of relations and where things are headed.

02:56India has been monitoring very closely the payments that it has made to Sri Lanka,

03:03whether it is taking them out of the economic trouble and providing them debt relief,

03:10because they were late on their payments, and that amounted to billions of dollars,

03:14or right now when they're looking at debt restructuring for Sri Lanka,

03:19and then looking at how to revive the economy to ensure that Sri Lanka...

03:24Today marks a new milestone in India-Sri Lanka energy cooperation,

03:28with the inauguration of supply of solar rooftops...

03:30Right, I'm going to go back to my guest Madhuri Ranasinghe,

03:33who continues to be with me on the broadcast.

03:35Madhuri, sticking with the subject of energy cooperation,

03:38what role do you think India is expected to play in Sri Lanka's long-term energy future?

03:42We know that the power project is crucial for Sri Lanka,

03:45and it has been trying to reduce its dependence on fossil fuel for power generation.

03:50So, what role do you think India can play in Sri Lanka's long-term energy future?

03:57So, what I see here is, as India grows and India's economy is getting into...

04:04I mean, they are targeting to go to the trillion-dollar economy,

04:08and with that, Sri Lanka also can be a part of this whole regional cooperation.

04:16And for that, I believe energy sustainability and how we can proceed to have more

04:24green energy in the country will be quite important.

04:28To be honest, when we talk about different action plans,

04:32I'm again referring to the BIMSTEC conference that happened in Thailand.

04:37They also talked about starting a BIMSTEC energy center.

04:44And he also talked about electric grid interconnectivity.

04:49And I think these are some things that we are also looking forward to with this

04:54electric grid connection.

04:56We will be able to share our energy, and we'll also be able to share energy from India.

05:02And since Sri Lanka is a country which is separated from the mainland,

05:07India can be our gateway to the mainland and a lot more resources,

05:13a lot more connectivity, and a lot more opportunities.

05:18This is how we see it.

05:19With energy connectivity, we are getting more opportunity.

05:23And as we talk, I mean, if you look at the world context right now,

05:30you can see how countries are struggling in terms of energy,

05:33and they are trying to bring more sustainability.

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