Indian Minister Ramesh meets Minister Bogollagama

(February 14, Colombo, Sri Lanka Guardian) Indian State Minister for Commerce, Jairam Ramesh on Wednesday called on Foreign Minister Rohitha Bogollagama at the Ministry of Foreign Affairs in Colombo. During his three day visit to Sri Lanka the Indian Minister engaged in discussions with a number of stake holders for expansion of bilateral trade and investment. He was accompanied by several prominent Indian investors who already have projects in Sri Lanka as well as those who proposing to open new ventures here.

During his discussion with the Foreign Minister Bogollgama, the Indian Minister emphasized the need for conclusion of the Comprehensive Economic Partnership Agreement (CEPA) between Sri Lanka and India before the upcoming SAARC Summit. Both Ministers acknowledged the fact that the technical level negotiations held November last year in Colombo have produced some positive results especially on the unresolved issues of dispute settlement mechanism and safeguard measures under the service sector. Minister Jairam was optimistic that the forthcoming Trade Secretary Level negotiations in Colombo which is being scheduled to be held around March this year would enable finalizing the CEPA.

Minister Bogollagama also shared with Minister Ramesh Sri Lanka’s preparations in connection with the hosting of SAARC Summit later this year. The two ministers underlined the importance of early conclusion of the feasibility study of the Electricity Grid Interconnection project and the need to augment the two way flow of investments. The Indian Minister indicated that the setting up of enterprises in India and Sri Lanka by the investors of both countries in new sectors was a sign of growing business confidence among entrepreneur community of both countries.
Foreign Minister Bogollagama apprised the Indian State Minister of the activities undertaken by the Government to restore democracy in the Eastern Province and of the forthcoming Local Government Elections. He said the Elections to the Provincial Councils to follow suit. Minister Bogollagama also thanked the Indian assistance and support extended toward this end. Minister Ramesh expressed the view that these steps would provide a strong signal to the Northern Region.