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Wednesday, 23 January 2013

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India,SL to deepen investment ties

India and Sri Lanka recognising the need to build a special economic partnership framework to achieve the goals of poverty alleviation, job creation and economic development for people of the two countries decided to take several steps to further deepen trade, tourism and investment relations.

This was stated in a joint statement issued by External Affairs Minister of India Shri Salman Khurshid and his Sri Lankan counterpart Prof. GL Peiris at the conclusion of the eighth India- Sri Lanka Joint Commission Meeting on January 21, 2013.

The External Affairs Ministers of India and Sri Lanka also signed the Agreement on Combating International Terrorism and Drug Trafficking; and Revised Double Taxation Avoidance Agreement.

The joint statement also acknowledged that the substantial development assistance provided by the Government of India towards relief, resettlement and rehabilitation of Internally Displaced Persons (IDPs) and livelihood generation and reconstruction efforts in the Northern and Eastern Provinces of Sri Lanka has had a positive impact on the ground.

In this context, both sides welcomed the successful completion of the pilot project for construction of 1,000 houses for IDPs in the Northern Province in August 2012 and the launch of the next phase for construction/repair of remaining 49,000 houses on 2 October 2012.

Both sides noted the impressive growth of tourism traffic between the two countries both ways. India currently contributed the largest number of tourist arrivals in Sri Lanka and over 250,000 Sri Lankans visited India in 2011-2012. It was agreed that with a view to enhance connectivity, people to people exchanges and movement of goods and services, the two sides would meet at the earliest to explore the possibility of finalizing and signing a revised Air Services Agreement; work towards the resumption of ferry services between Talaimannar and Rameswaram for which the Joint Committee on Ferry Services would meet at the earliest; and hold the meeting of the Joint Working Group on Tourism in the first quarter to 2013 to identify potential areas of cooperation, including marketing and capacity-building.

The two sides described the Sampur Power Project as a landmark initiative and directed the officials concerned on both sides to work towards its implementation so that the project goes on-stream by 2016, and to expeditiously complete the joint study on establishing power inter-grid connectivity.

The Joint Commission noted that both sides are committed to decrease incidents pertaining to fishing on the International Maritime Boundary Line (IMBL).

Both countries agreed that the use of force could not be justified under any circumstances and reiterated in this regard the importance of continuing to extend humane treatment to all fishermen. Both sides welcomed the decisions arrived at the two meetings of the Joint Working Group on Fishing held in March 2011 and January 2012 respectively, and encouraged senior officials to meet regularly to continue the dialogue to strengthen cooperation on fishing related issues.

During his visit to India, the External Affairs Minister of Sri Lanka called on the Prime Minister of India and had a separate meeting with the External Affairs Minister of India.

The External Affairs Minister of India accepted the invitation extended by the Sri Lankan External Affairs Minister to visit Sri Lanka in the first half of 2013 and suggested that mutually convenient dates be worked out through diplomatic channels.

It was agreed that the next session of the Joint Commission would be held in Sri Lanka in the first half of 2014 on a date to be mutually agreed upon between the two sides.

 

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