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Trilateral Cooperation Between India, Japan, and Sri Lanka UPSC NOTE

 


  • More than two years after Sri Lanka cancelled a joint India-Japan MoU for the East Container Terminal (ECT) project in Colombo, the three countries are studying ways of restarting trilateral cooperation.

Background

  • The cancellation of the MoU, estimated at about $500 million. The suspension of the Japanese-funded light rail transit (LRT) project by the previous Gotabaya Rajapaksa government, had led to a freeze in ties between Tokyo and Colombo.

  • With India and Japan coming to Sri Lanka’s rescue during last year’s economic crisis, and offering assistance with Sri Lanka’s debt restructuring process, the Ranil Wickremesinghe government has also sought the return of infrastructure project plans and investment from both countries. 

Trilateral Cooperation Between India, Japan, and Sri Lanka

  • India and Japan share a vision of a Free Open and Inclusive Indo-Pacific [FOIIP], which is of relevance to all countries in the region including Sri Lanka.

  • With India and Japan coming to Sri Lanka’s rescue during last year’s economic crisis, and offering assistance with Sri Lanka’s debt restructuring process, the Ranil Wickremesinghe government has also sought the return of infrastructure project plans and investment from both countries. 

Trilateral Cooperation Between India, Japan, and Sri Lanka

  • India and Japan share a vision of a Free Open and Inclusive Indo-Pacific [FOIIP], which is of relevance to all countries in the region including Sri Lanka.

Eastern Container Terminal port:

  • The ECT is located some 3 km away from the China-backed international financial city, known popularly as "port city", being built on reclaimed land on Colombo's sea front.

Proposed Areas of Cooperation:

  • Suggested cooperation areas include renewable energy, grid connectivity, the development of Trincomalee as an oil pipeline hub, connectivity, and people-centric projects.

  • Projects aligned with the Joint Economic Vision Statement released by President Wickremesinghe and Prime Minister Narendra Modi in July.

Role of Private Sector:

  • The projects, catalysed by the Indian and the Sri Lankan governments, encourage the private sector to lead investments and execution.

  • Consideration of partnerships with Japan to manage the substantial investment required.

Japan’s Involvement:

  • Japan expresses keen interest in collaborating with India on projects in South Asia.

  • Emphasis on equitable treatment of creditors in Sri Lanka’s debt restructuring process.

  • Japan seeks a partnership model to avoid exclusion from projects.

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Learnerz IAS | Concept oriented UPSC Classes in Malayalam: Trilateral Cooperation Between India, Japan, and Sri Lanka UPSC NOTE
Trilateral Cooperation Between India, Japan, and Sri Lanka UPSC NOTE
Learnerz IAS | Concept oriented UPSC Classes in Malayalam
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