Modi and Dissanayake Strengthen India-Sri Lanka Ties With Enhanced Trade and Development Strategies

Prime Minister Narendra Modi and Sri Lankan President Anura Kumara Dissanayake have agreed to elevate the India-Sri Lanka partnership. They aim to enhance trade through the ISFTA and INR-LKR settlements, deepen political engagements, and boost connectivity and development projects, underscoring India's support for Sri Lanka's economic recovery and growth.

Prime Minister Narendra Modi and Sri Lankan President Anura Kumara Dissanayake have marked a pivotal step in strengthening bilateral relations between their nations. In a significant meeting, both leaders lauded the impact of the India-Sri Lanka Free Trade Agreement (ISFTA) and pledged to further augment trade settlements using the Indian and Sri Lankan rupees.

Their joint statement, titled 'India - Sri Lanka Joint Statement: Fostering Partnerships for a Shared Future,' emphasized ongoing discussions on an Economic & Technological Cooperation Agreement. It also highlighted efforts to encourage investments in key sectors of the Sri Lankan economy to boost export potential, amid India's supportive role during Sri Lanka's economic recovery.

Additionally, the talks underscored the importance of enhanced political dialogue, capacity-building, and infrastructure development. With agreed plans for projects like the Indian Housing Project and energy initiatives, the leaders reiterated their commitment to a people-oriented development partnership, focusing on shared democratic values and mutual growth.

(With inputs from agencies.)