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.
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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.