Sri Lanka
Sri Lanka anti-government protests continue despite curfew
Defying a nationwide curfew in Sri Lanka, several hundred protesters continued to chant slogans against the government Tuesday, a day after violent clashes saw the resignation of the prime minister who is blamed, along with his brother, the president, for leading the country into its worst economic crisis in decades.
Protesters swarmed the entrance to President Gotabaya Rajapaksa’s office in the capital, Colombo, for the 32nd day to demand that he follow in his brother’s footsteps and quit. The site outside Rajapaksa’s office has seen sustained crowds of thousands for weeks, but had dropped to hundreds on Tuesday due to a strict curfew, following clashes yesterday that left four dead.
Read: Sri Lankan prime minister resigns after weeks of protests
A government decree issued Monday night confirmed the resignation of Mahinda Rajapaksa, the prime minister.
On Tuesday, anti-government protesters shouted slogans for the president to resign and rebuilt the tents damaged in Monday’s attack.
One of the protesters, software engineer Chamath Bogahawatta, said that the government “did something very despicable by bringing in people to provoke us. I don’t think people going to tolerate their attempts to rule with the help of military.”
“There will be more people joining us. How long are they going to rule a country under curfew?” he asked.
The prime minister’s resignation came after violence erupted in front of the Rajapaksas’ offices as his supporters hit the protesters with wooden and iron poles. Authorities swiftly deployed armed troops in many parts of the country and imposed a curfew until Wednesday.
The ambush by the supporters triggered immediate anger and chaos, as people started attacking ruling party politicians. More than a dozen houses belonging to ruling party leaders were vandalized and set ablaze.
At least four people including a ruling party lawmaker were killed and nearly 200 were wounded Monday night.
Protester Charith Janapriya said, “If they thought they can stop a huge peoples’ struggle by destroying our tents, I think they got their answer last night itself.”
“What we lost were some tents and clothes,” Janapriya said. “But we got many more people on our side than we had before.”
Read: Sri Lanka deploys troops to capital after clash at protest
The South Asian island nation has been seething for more than a month, as protests have spread from the capital to the countryside. It has drawn people from across ethnicities, religions and classes and has even seen a marked revolt from some Rajapaksa supporters, many of whom have spent weeks calling for the two brothers to quit.
The pressure on President Rajapaksa to quit mounts following his brother’s resignation, analysts say, and comes as the country’s economy has dramatically fallen apart in recent weeks.
Imports of everything from milk to fuel have plunged, spawning dire food shortages and rolling power cuts. People have been forced to stand in lines for hours to buy essentials. Doctors have warned of crippling shortages of life-saving drugs in hospitals, and the government has suspended payments on $7 billion in foreign debt due this year alone.
Rajapaksa initially said the crisis wasn’t created by him, laying the blame on global factors like the pandemic battering its tourism industry and the Russia-Ukraine conflict pushing up global oil prices. But unable to escape the public anger, both he and his brother have since admitted to mistakes that exacerbated the crisis, including conceding they should have sought an International Monetary Fund bailout sooner.
In March, after citizens had been enduring critical shortages of fuel, cooking gas and medicine for months already, the president reached out to the IMF. Talks to set up a rescue plan are being held, with progress dependent on negotiations on debt restructuring with creditors. But any long-term plan would take at least six months to get underway.
Asian Games Qualifier: Bangladesh to face Sri Lanka on Tuesday
Bangladesh will face Sri Lanka in their 2nd Pool B match of the Men's Asian Games Hockey Qualifier in the Thai capital Bangkok Tuesday afternoon.
The match will kick-off at 2:30 pm Bangkok time.
Earlier on Saturday, Bangladesh team made a good start in the nine-nation Asian Games Qualifier beating Indonesia by 3-1 goals with medio Sarwar Hossain, forward Pushkar Khisha Mimo and midfielder Fazle Hossain Rabbi scoring one field goal each for Bangladesh.
Also read: Men's Asian Games Hockey Qualifier 2022: Bangladesh's Full Fixtures, Squad
Earlier in the AHF Cup Hockey Tournament held in Indonesia last March, Bangladesh outplayed hosts Indonesia by 7-2 goals.
Sri Lanka also made a flying start in the Asian Games qualifier outplaying Singapore by 5-2 goals in their first match last Saturday.
Bangladesh team, which was placed in four-team Pool B of the Asian Games Qualifiers with Indonesia, Sri Lanka and Singapore, will play lowly Singapore on May 12 in their remaining group match.
On completion of the Asian Games qualifier, Bangladesh team led by new captain Khorshedur Rahman will travel to Indonesia directly from Thailand to compete in the Men's Asia Cup Hockey to be held in Jakarta from May 23 to June 1.
In the eight- nation Hero Men's Asia Cup Hockey, Bangladesh team was placed in Pool B with Malaysia, Korea and Oman.
Also read: Asian Games hockey qualifiers: Bangladesh beat Indonesia 3-1
Bangladesh will face Korea on May 23, Oman on May 24 and Malaysia on May 26.
Earlier, Bangladesh qualified for the Hero Men’s Asia Cup Hockey by clinching the Men's AHF Cup Hockey title for the fourth consecutive time in Jakarta last year.
Sri Lanka deploys troops to capital after clash at protest
Authorities deployed armed troops in the capital Colombo on Monday hours after government supporters attacked protesters who have been camped outside the offices of the country's president and prime minster, as trade unions began a “Week of Protests” demanding the government change and its president to step down over the country’s worst economic crisis in memory.
The Indian Ocean island nation is on the brink of bankruptcy and has suspended payments on its foreign loans. Its economic woes have brought on a political crisis, with the government facing widespread protests and a no-confidence motion in Parliament.
Supporters of Prime Minister Mahinda Rajapaksa rallied inside his office earlier Monday, urging him to ignore the protesters' demand to step down and requesting he remain in office.
After the meeting, they went to the front of the office where protesters have been demonstrating for several days. Local television channel Sirasa showed pro-government supporters attacking protesters with clubs and iron bars, demolishing and later burning down their tents.
Also read: Diplomats concerned by state of emergency in Sri Lanka
After the attack, hundreds of armed soldiers were deployed in Colombo as the protesters made accusations on Sirasa TV that police did not interfere to prevent the attack, despite using tear gas and water cannons on protesters as recently as Friday.
Sirasa TV showed government lawmaker Sanath Nishantha was among the government supporters who attacked the protesters.
At the main hospital in the capital Colombo, 23 wounded people have been admitted and their condition is not critical, an official said on condition of anonymity as she is not authorized to speak to the media.
Also read: Sri Lanka leader declares emergency amid protests
The attack came as protesters marked their 31st day outside the president’s and prime minister's offices. They have been demanding that the president, his older brother Prime Minister Mahinda Rajapaksa and other powerful Rajapaksa family members quit. Similar protests have spread to other locations, with people setting up camps opposite the prime minister’s residence and in other towns across the country.
So far, the Rajapaksa brothers have resisted calls to resign, though three Rajapaksas out of the five who were lawmakers stepped down from their Cabinet posts in April.
Meanwhile, trade unions on Monday called for protests throughout this week, trade union activist Saman Rathnapriya said, and more than 1,000 unions representing health, port, education, and other key service sectors have joined the “Week of Protests" movement.
He said during the week, the workers will stage demonstrations at their workplaces across the country. At the end of the week, they will launch a huge march up to Parliament, demanding President Gotabaya Rajapaksa's removal and a new government.
For several months, Sri Lankans have endured long lines to buy fuel, cooking gas, food and medicine, most of which come from abroad. Shortages of hard currency have also hindered imports of raw materials for manufacturing and worsened inflation, which surged to 18.7% in March.
People blocked main roads to demand gas and fuel. On Sunday, local television channel Hiru showed people in some areas fighting over fuel.
Sri Lanka was due to pay $7 billion of its foreign debt this year out of nearly $25 billion it must pay by 2026. Its total foreign debt is $51 billion.
Sri Lanka’s finance minister announced earlier this week that the country’s usable foreign reserves have plummeted below $50 million.
As oil prices soar during the Russia-Ukraine conflict, Sri Lanka’s fuel stocks are running out. Authorities have announced countrywide power cuts will increase to about four a day because they can’t supply enough fuel to power generating stations.
Protesters have crowded the streets since March, maintaining that Rajapaksa and his family — who have dominated nearly every aspect of life in Sri Lanka for most of the last 20 years — are responsible for the crisis.
On Friday, Rajapaksa declared a state of emergency, which empowers him to authorize detentions, property seizure and search of any premises. He can also change or suspend any law in the interests of public security and for the maintenance of essential supplies. Diplomats and rights groups have expressed concern over the move.
Sri Lanka has been holding talks with the International Monetary Fund to get an immediate funding facility as well as a long-term rescue plan but was told its progress would depend on negotiations on debt restructuring with creditors.
Any long-term plan would take at least six months to get.
BCB announces 14-member squad for two-day practice match vs Sri Lanka
Bangladesh Cricket Board (BCB) on Saturday announced a 14-member squad to play a two-day practice match against Sri Lanka at BKSP starting from May 10.
Mohammad Mithun, the right-handed batsman, will lead the BCB XI in this match. Anamul Haque Bijoy, who scored more than a thousand runs in the Dhaka Premier Division Cricket League this year, has been added to this team along with Mosaddek Hossain, Saif Hassan, Zakir Hasan and Abu Jayed Rahi.
The Sri Lanka cricket team will arrive in Bangladesh on Sunday morning for a two-match Test series which is a part of the 2021-2023 ICC World Test Championship.
Also read: 2022 BCB Central Contract: Players List
The first Test starts at the Zahur Ahmed Chowdhury Stadium in Chattogram on May 15 while the second Test commences at the Sher-e-Bangla National Cricket Stadium in Dhaka on May 23.
BCB XI for two-day practice match vs Sri Lanka:
Mohammad Mithun (Captain), Shadman Islam, Anamul Haque Bijoy, Shahadat Hossain Dipu, Zakir Hasan, Saif Hassan, Musaddek Hossain Saikat, Rishad Hossain, Enamul Haque, Mushfique Hassan, Ripon Mondol, Mukidul Islam Mugdho, Amite Hassan, Abu Jayed Rahi.
Also read: BCB announces new central contract with Shakib in all formats
Bangladesh provides medical assistance to Sri Lanka
Noting that every country is facing challenges of its own in varied degrees, Foreign Minister AK Abdul Momen on Thursday said mutual collaboration is much more essential than ever before in this trying time.
The dual impacts of Covid-19 pandemic, its resultant supply-chain disruption and the war between Russia and Ukraine have distorted the global economy, he said.
The foreign minister made the remarks while handing over medical assistance to Sri Lanka at a function held at State guesthouse Padma.
Also read: A political reckoning in Sri Lanka as debt crisis grows
"We also stand ready to extend further support to Sri Lanka in all possible ways we can," he said.
Bangladesh decided to send a significant quantity of medical supplies worth Tk 20 crores to Sri Lanka as a goodwill gesture.
Foreign Minister Momen and Health Minister Zahid Maleque handed over few boxes of medicine as a token to the Sri Lankan High Commissioner to Bangladesh Prof. Sudharshan D.S. Seneviratne.
Foreign Secretary (Senior Secretary) Masud Bin Momen and President of Bangladesh Association of Pharmaceuticals Industries (BAPI) Nazmul Hassan, MP, among others, were present.
As a friend and close neighbour, Momen said, it is also Bangladesh's privilege to stand by Sri Lanka in whatever way it can, during times of crisis.
"This is yet another demonstration that the trajectory of our bilateral relations is in the right direction," he said.
The foreign minister said this medical assistance by the government of Bangladesh to the friendly people of Sri Lanka is the expression of solidarity and friendship between the two nations when they are celebrating 50 years of diplomatic relations this year.
Over the last 50 years, Bangladesh and Sri Lanka as South Asian neighbours have been maintaining close cooperation.
"Our two countries enjoy common historical legacy, shared culture and values, similar developmental aspirations, and face identical challenges," Momen said.
He said Bangladesh appreciates the value of good relations with Sri Lanka and understands the importance of making it even more fruitful and tangible.
"Our Father of the Nation Bangabandhu Sheikh Mujibur Rahman was an epitome of humanity and love for the people. Our Prime Minister Sheikh Hasina, able daughter of Bangabandhu is carrying his legacy which often transcends geographical boundaries," Momen said.
Sri Lanka opposition seeks no-confidence vote on Rajapaksas
Sri Lanka’s main opposition party on Tuesday issued a no-confidence declaration aiming at ousting Prime Minister Mahinda Rajapaksa and his Cabinet and blaming them of failing in their constitutional duty to provide a decent living standards amid the island nation's worst economic crisis in memory.
A group from United People's Force party, led by leader Sajith Premadasa, delivered the motion demanding the no-confident parliamentary vote to Parliament Speaker Mahinda Yapa Abeywardena.
The move came amid countrywide protests demanding the resignations of Rajapaksa and his younger brother, President Gotabaya Rajapaksa, who the demonstrators hold responsible for the economic crisis.
Also read: A political reckoning in Sri Lanka as debt crisis grows
A majority vote in the 225-member Parliament would be needed to remove Rajapaksa and the Cabinet from power. The United People’s Force can only count on 54 votes but hopes to win votes from smaller opposition parties and defections from the ruling Sri Lanka People’s Front party. The ruling party had nearly 150 votes but that strength has declined amid the economic crisis and defections in a no-confidence vote are possible.
A decision on when to hold the no-confidence vote is expected to happen after members of Parliament start meeting on Wednesday.
The United People’s Force also delivered a no-confidence motion targeting the president, but it would not force him to leave office even a majority of lawmakers vote against him.
Sri Lanka is on the brink of bankruptcy after the country's recent announcement to suspend payments on its foreign loans. The country faces repayments of $7 billion of foreign loans this year of the $ 25 billion it is scheduled to pay by 2026. Sri Lanka has less than than $ 1 billion in foreign reserves.
Also read: Sri Lanka discusses loan from China to cover earlier debts
The foreign currency crisis has limited imports and caused severe shortages of essential goods like fuel, cooking gas, medicine and food. People stand in long lines for hours to buy what they can and many return home with little, if any, of what they were seeking.
The United People’s Force's motion also accuses top government officials of excessively printing money, hurting agricultural production by banning chemical fertilizer to make the production fully organic, failing to order COVID-19 vaccines in a timely manner and buying them later at higher prices.
Protesters on Tuesday were in their 25th day of their occupation of the entrance to the president's office, demanding the resignations of Rajapaksa family members who have ruled Sri Lanka for the last two decades.
A political reckoning in Sri Lanka as debt crisis grows
Sherry Fonseka joined millions in 2019 in electing President Gotabaya Rajapaksa, a military strategist whose brutal campaign helped end Sri Lanka’s 30-year civil war 10 years earlier.
Now he is one of thousands who, for weeks, have protested outside the president’s office, calling on Rajapaksa and his brother, Mahinda, who is prime minister, to resign for leading the country into its worst economic crisis since its independence from Britain in 1948.
With the island teetering near bankruptcy, Fonseka, who owns a small garment business in the capital, Colombo, has resorted to spending his own savings to pay the salaries of his 30 employees. But he knows he will soon have to let them go and is clear about who is to blame.
“All of us thought we made the correct decision (to elect Rajapaksa), but we’ve realized we were wrong. We should have the backbone to tell people, and the world, that we made a mistake,” he said.
In recent weeks, protests have erupted across the country demanding that Rajapaksa quit.
The protests highlight the dramatic fall of the Rajapaksas from Sri Lanka’s most powerful political dynasty in decades to a family grasping to retain power. Despite accusations of atrocities during the civil war, Gotabaya and Mahinda, who was previously president, remained heroes to many of the island’s Buddhist-Sinhalese majority and were firmly entrenched at the top of Sri Lankan politics before the revolt by previous supporters like Fonseka.
“The pendulum has swung from ‘it’s all about the Rajapaksas, they are the people who saved this country,’ to ‘it is because of the Rajapaksas that the country is now ruined,’” said Harsha de Silva, an economist and opposition lawmaker.
Also read: Sri Lanka discusses loan from China to cover earlier debts
The unravelling of Sri Lanka’s economy has been swift and painful. Imports of everything from milk to fuel have plunged, spawning dire food shortages and rolling power cuts. People have been forced to queue for hours every day to buy essentials. Doctors have warned of a crippling shortage of life-saving drugs in hospitals, and the government has suspended payments on $7 billion in foreign debts due this year alone.
“The Rajapaksas, like an octopus, have held on to every aspect of public life in Sri Lanka,” de Silva said. “They have been running it as if it was their kingdom. They wished and they did –- that’s how it was and people were with them.”
President Rajapaksa has defended his government, partly blaming the pandemic and Russia’s war in Ukraine. “This crisis was not created by me,” he said in a speech last month, adding that his government was working hard on solutions. They include approaching the International Monetary Fund and World Bank for assistance, after repeated calls to do so.
But as protesters seethed, the president and prime minister have changed tact in recent weeks. They have admitted to mistakes they made that exacerbated the crisis, such as implementing a short-lived ban last year on importing chemical fertilizers that badly hurt farmers and conceding that they should have sought a bailout sooner.
Influential Buddhist monks have urged Rajapaksa to form an interim government under a new prime minister, signaling a further decline in the family’s image as protectors of the country’s 70% Buddhist-Sinhalese majority. Some observers say it’s too soon to measure how much support for the Rajapaksas has fallen among their hardcore base, but for many their response has been too little and too late.
“There is now recognition across the government of several missteps, but it’s one that’s come at a huge cost to the people,” said Bhavani Fonseka, a senior researcher at the Colombo-based Center for Policy Alternatives.
The Rajapaksas were a powerful land-owning family which for decades dominated local elections in their rural southern district, before rising to the helm of national politics in 2005 when Mahinda was elected president. He remained in power until 2015, overseeing the end of the civil war against ethnic Tamil rebels in 2009, before losing to the opposition led by his former aide.
Suicide bombings that killed 290 people on Easter Sunday in 2019 paved the way for the Rajapaksas’ return, this time as Gotabaya launched a high-pitched nationalist campaign that tapped outrage and disillusionment with the previous government over the attacks.
He vowed a return to the muscular nationalism that had made his family popular with the Buddhist majority, and also to bring the country out of an economic slump with a message of stability and development.
Tourism had dropped sharply after the bomb attacks and Sri Lanka needed badly to boost revenue to service a slew of foreign loans for splashy infrastructure projects. Some involved Chinese money and were commissioned under his brother’s presidency, but had failed to create profits, instead collecting debt.
Just days into his presidency, Rajapaksa pushed through the largest tax cuts in Sri Lanka’s history to spur spending even as critics warned that it would shrink the government’s finances. According to Nishan de Mel, executive director of Verité Research, Sri Lanka’s tax base fell by 30%.
Also read:Sri Lanka halts stock trading as share prices plummet
“When you do something like that, you have some kind of internal analysis or document that shows why these cuts could help the economy. There was nothing of that sort,” de Mel said.
The move triggered immediate punishment from the global market as creditors downgraded Sri Lanka’s ratings, making it impossible for it to borrow more money as its foreign exchange reserves continued to dwindle. Then the coronavirus hit, further crushing tourism as debts snowballed.
Analysts say the Rajapaksas’ response to the economic challenges underscored the limitations of their strongman politics and their family’s near-monopoly on decision making, heavily relying on the military to enforce policy and passing laws to weaken independent institutions.
Three other Rajapaksa family members were in the Cabinet until early April, when the Cabinet resigned en masse in response to the protests.
“Their entire political ideology and credibility is in serious crisis,” said Jayadeva Uyangoda, a veteran political scientist.
But many fear that things will only get worse before improving. A divided and weak opposition without a majority in Parliament has kept the Rajapaksas in power. An IMF bailout could see austere measures intensifying hardships for people before there is relief.
Meanwhile, the focus remains on the protests, which are drawing people across ethnicities, religion and class. For the first time, middle-class Sri Lankans have taken to the streets in large numbers, Uyangoda said.
They include Wijaya Nanda Chandradewa, who joined the crowd outside the president’s office on Saturday. A retired government employee, Chandradewa said he fell for Rajapaksa’s promise to rebuild a Sri Lanka scarred by the 2019 bombings.
“He said there will be one country and one law -- now there is neither the law nor the country,” Chandradewa said, adding that the only option now is for Rajapaksa to quit.
“He showed us a fairyland and cheated us and misled us,” he said. “We have to fix our mistakes and build a system to bring in the right leader.”
Sri Lanka discusses loan from China to cover earlier debts
Sri Lanka’s government said Tuesday it is discussing obtaining another loan from Beijing to repay some of its debt to Chinese banks after China told the nearly bankrupt island nation it was not in favor of restructuring the existing loans.
Sri Lanka has nearly $7 billion in foreign debt due for repayment this year and will need to repay $ 25 billion over the next five years. A severe shortage of foreign exchange means the country l acks money to buy imported goods, leading to shortages of food, fuel and other essentials.
The economic crisis has brought weeks of protests across the country calling for President Gotabaya Rajapaksa’s resignation.
Read: Sri Lanka halts stock trading as share prices plummet
Government spokesman Nalaka Godahewa said Beijing was balking at restructuring Sri Lanka’s debt because it does not want to set that precedent. He told reporters the finance ministry will announce details of discussions with China later.
Earlier this month, the government said it was suspending repayment of foreign loans pending negotiations with the International Monetary Fund for a loan restructuring plan.
Sri Lanka’s debt problems are partly because it built infrastructure like a port, airport and road networks using Chinese loans, but the projects are not making money.
Read: Modi congratulates Prez Macron on his re-election
Rajapaksa had asked Chinese Foreign Minister Wang Yi, who visited Sri Lanka in January, to restructure those loans.
Central Bank figures show existing Chinese loans to Sri Lanka total around $3.38 billion, not including loans to state-owned businesses, which are accounted for separately and thought to be substantial.
Bangladesh announces squad for Sri Lanka series
Bangladesh Cricket Board (BCB) on Sunday announced a 15-member squad for the first Test of the upcoming home series against Sri Lanka.
Shakib Al Hasan, who missed the last series due to family reasons, has been included in this series. However, left-handed opener Sadman Islam is overlooked due to his off-form.
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Left-arm pacer Shoriful Islam has also been included in the team but his participation is subjected to his fitness. Along with him, uncapped pacer Rejaur Rahman Raja is also in the squad.
The first Test of the series will take place in Chattogram from May 15 while the second Test will be played in Dhaka from May 23.
This series is part of the ongoing ICC Test Championship. Bangladesh played six matches so far and won only one in New Zealand— their first in New Zealand as well.
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Bangladesh squad: Mominul Haque (Captain), Tamim Iqbal, Mahmudul Hasan Joy, Najmul Hossain Shanto, Mushfiqur Rahim, Shakib Al Hasan, Litton Das, Yasir Ali, Taijul Islam, Mehidy Hasan Miraz, Ebadot Hossain, Khaled Ahmed, Nurul Hasan Sohan, Rejaur Rahman Raja, Shohidul Islam, Shoriful Islam (subject to fitness).
Bangladesh, Sri Lanka need to be seen as strategic partners: Envoy
Sri Lankan High Commissioner to Bangladesh Professor Sudharshan Seneviratne has said that his counyry wants to see Bangladesh as a strategic partner, noting that the two countries need to take care of each other in a newly evolving globalized world.
“This partnership becomes imperative as our alignment revolves around the protection of the seascape embracing the two lands,” he said, emphasizing that the two countries are also stakeholders of the larger family represented by the SAARC, BIMSTEC and IORA.
In his recent speech marking the 50 years of Bangladesh-Sri Lanka friendship shared with media on Saturday, High Commissioner Seneviratne, who was also the first Sri Lankan to receive both Masters and Doctoral Degrees from India’s Jawaharlal Nehru University, said Dhaka and Colombo need to prosper together.
The envoy, also Ambassador Extraordinary and Plenipotentiary to the Kingdom of Bhutan, said one of the focal points and dynamics of the global power blocks is their engagement and aspirations in the Indian Ocean and the Bay of Bengal.
Also read: US envoy meets Hasan Mahmud
“We are now witnessing a sharply evolving competitive spirit that is setting the tone for the future of South Asia,” he said, adding that the global neoliberal political and economic order is beginning to aggressively impact the region.
It may effectively alter the balance of power and cordiality within the South Asian neighbourhood, said the envoy. “Its impact is mainly felt over the seascape of the Bay of Bengal.”
He said their two lands hold an equally important role at the two strategic ends of the Bay of Bengal representing the “gateway” entry and exit points to the larger World systems.
“The Bay of Bengal essentially is an Oceanic highway. As such, the futuristic staying power and sustenance of our two countries revolve around the protection of the seascape of the Indian Ocean and the Bay of Bengal,” said the high commissioner.
It is now recognized that the Bay of Bengal is one of the richest resource areas in the world, hence the high competitive premium placed on its natural and human wealth, he said.
Seneviratne wished another 50 years of friendship and solidarity between Bangladesh and Sri Lanka as a gift to the people of the two countries and to the world.
Also read: No proposal made to US to bring BNP to polls: Momen
He said aviation and shipping are making headway with official discussions at the ministerial level on coastal shipping, mutual birthing rights and warehouse facilities which are under discussion.
Private sector shipping companies from Bangladesh and Sri Lanka most recently commenced working on joint ventures and the government-owned shipping corporations are working together, he said.
As for reverse investments, it is heartening to learn that Bangladesh has lifted the restriction of movement of capital as FDI’s, said the high commissioner.
Though limited, there was an outflow of FDI to Sri Lanka between 2005 and 2019 amounting to around 4 million US$.
“Sri Lanka is looking towards initial investments from Bangladesh and we have on track tourism, shipping and pharma,” he said.
Seneviratne said, “We also need to strike a balance between the two brother nations so that trade balance needs to be rectified. As of now, the trade balance is in favour of Sri Lanka at US$105 million.”
The near completion of the preferential trade agreement (PTA) will provide greater opportunities for closing the uneven flow, he said.