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PM Modi Begins Landmark Visit to Sri Lanka - Major Outcomes
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Chanakya's_Chant
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India, Sri Lanka sign 4 agreements
Prime Minister Narendra Modi at the delegation level talks between India and Sri Lanka, in Colombo, Sri Lanka, on Friday.
Colombo, March 13
India and Sri Lanka today signed four agreements during Narendra Modi's maiden visit to the country, the first bilateral tour by an Indian premier in 28 years, with the Prime Minister announcing a slew of measures aimed at resetting ties with the strategic neighbour.
Prime Minister Modi, who arrived here this morning on the final stop of his three-nation tour of Indian Ocean island nations, met Lankan President Maithripala Sirisena and discussed bilateral and issues of regional importance.
"I am conscious of the significance of this visit. This is the first stand alone bilateral visit by an Indian Prime Minister since 1987," Modi said at a joint press meet with Sirisena, who was in India last month on his first foreign trip after assuming office in January.
The Prime Minister said his meeting with Sirisena has been very productive. It "gives me confidence and optimism about the future of our relations," Modi said.
The two sides signed four agreements on visa, customs, youth development and building Rabindranath Tagore memorial in Sri Lanka.
"The agreement today on cooperation between our customs authorities is a step in that direction. It will simplify trade and reduce non-tariff barriers on both sides," he said.
Modi said the progress made by two countries reflects "our shared commitment to stronger economic cooperation".
"Our trade has seen impressive growth over the past decade. I am aware of your concerns about trade with India. As I said in Delhi, we will try and address them," he said.
Modi said India stands ready to help Trincomalee become a petroleum hub and announced that New Delhi will provide a fresh Line of Credit of up to USD 318 million for the railways sector in Lanka.
"This will be used to procure rolling stock, and to restore and upgrade existing railway track," he said.
The Prime Minister also said that the Reserve Bank of India and the Central Bank of Sri Lanka have agreed to enter into a Currency Swap Agreement of USD 1.5 billion to help keep the Sri Lankan rupee stable.
He lauded the efforts of newly elected President Sirisena and assured him of all help from India.
"We stand with you in your efforts to build a future that accommodates the aspirations of all sections of society, including the Sri Lankan Tamil community, for a life of equality, justice, peace and dignity in a united Sri Lanka.
"We believe that early and full implementation of the 13th Amendment and going beyond it would contribute to this process," said Modi, who is here as part of his three-nation tour of Indian Ocean island nations that took him to Seychelles and Mauritius. PTI
India, Sri Lanka sign 4 agreements
Sri Lanka, India to partner on oil storage project - Modi
India's Prime Minister Narendra Modi (L) gestures with Sri Lanka's President Maithripala Sirisena at the Presidential Secretariat in Colombo March 13, 2015.
(Reuters) - Sri Lanka's state-run Ceylon Petroleum Corporation (CPC) and the local subsidiary of Indian Oil Corp (IOC.NS) have agreed to develop a strategic oil storage facility in Trincomalee, Prime Minister Narendra Modi said on Friday.
Speaking on the first visit to Sri Lanka by an Indian leader in nearly three decades, Modi said the project could help the island nation lying to India's southeast become a regional petroleum hub.
Sri Lanka is strategically located on a shipping route between Gulf oil exporters and Asian consumers, and the eastern port of Trincomalee served as a crucial Allied supply hub during World War Two.
"We are also focusing on new opportunities. Today Lanka IOC and Ceylon Petroleum Corporation have agreed to joint development of the upper tank farm of the China Bay installation in the Trincomalee on mutually agreed terms," Modi told reporters after meeting President Maithripala Sirisena.
"A joint task force will be constituted soon to work out themodalities. India stands ready to help Trincomalee become a regional petroleum hub."
Lanka IOC LIOC.CM, a subsidiary of Indian Oil Corporation (IOC.NS), operates 15 storage tanks out of 99 in Trincomalee. The Sri Lankan government had been considering developing the rest to increase its fuel storage capacity.
Each of the storage tanks has a capacity of around 12,000 tonnes.
(Reporting by Shihar Aneez and Ranga Sirilal; Editing by Douglas Busvine and Alan Raybould)
Sri Lanka, India to partner on oil storage project - Modi| Reuters
India’s Prime Minister Narendra Modi is on a visit to Sri Lanka, the first such trip by a serving Indian premier to the island nation in 28 years.
In a speech to the media after arriving in Colombo on Friday morning as part of a three-nation tour of the Indian Ocean, Mr. Modi said that economic ties between India and Sri Lanka are key to the relationship between the two neighbors and said that agreements he had reached with the island’s President Maithripala Sirisena, would simplify trade between the countries.
Below, in full, is the text of Mr. Modi’s speech as published on the Ministry of Foreign Affairs website.
Your Excellency Mr. Maithripala Sirisena, President of Sri Lanka,
Members of the media,
I am delighted to be in Sri Lanka, in this beautiful city of Colombo.
I have eagerly looked forward to visiting one of our closest neighbours and a nation with which we share so much.
I am truly honoured by your warm welcome and friendship.
I am conscious of the significance of this visit. It is the first standalone bilateral visit to Sri Lanka by an Indian Prime Minister since 1987.
Last month, President Sirisena honoured us by making India his first foreign visit as President. I am glad to be here so soon.
This is how it should be between neighbours. We should meet regularly.
It helps us understand each other better; find solutions to mutual concerns; and, move our relationship forward.
That is what we achieved in my meetings with President Sirisena today. Economic ties are a key pillar of our relationship.
The progress we have made reflects our shared commitment to stronger economic cooperation.
Our trade has seen impressive growth over the past decade. I am aware of your concerns about trade with India. As I said in Delhi, we will try and address them.
The agreement today on cooperation between our customs authorities is a step in that direction. It will simplify trade and reduce non-tariff barriers on both sides.
We are not just looking at addressing problems. We are also focusing on new opportunities.
Today, Lanka IOC and Ceylon Petroleum Corporation have agreed to jointly develop the Upper Tank Farm of the China Bay Installation in Trincomalee on mutually agreed terms.
A Joint Task Force will be constituted soon to work out the modalities. India stands ready to help Trincomalee become a regional petroleum hub.
I also look forward to early commencement of work on the ground in the Sampur Coal Power Project. This landmark project would meet Sri Lanka’s energy needs.
The ocean economy is a new frontier that holds enormous promise for both of us. It is a priority for our two countries. Our decision to set up a Joint Task Forceon Ocean Economy is a significant step, especially because of our proximity.
People are at the heart of our relations. We have taken a number of decisions to encourage people to people contacts, improve connectivity, and increase tourism.
We will extend the facility of “Tourist Visa on Arrival – Electronic Travel Authorization” Scheme to Sri Lankan citizens from the Sinhala and Tamil New Year on 14 April 2015.
Air India will soon start direct flights between New Delhi and Colombo.
We will cooperate in developing a Ramayana Trail in Sri Lanka and a Buddhist Circuit in India.
We will organize a Festival of India in Sri Lanka later this year. Sri Lanka is where Buddhism has truly flourished. We will be organizing an exhibition showcasing our Buddhist heritage as part of this festival.
The Memorandum of Understanding on cooperation in youth affairs is an important long term investment in our relationship.
India is privileged/ to be a development partner for Sri Lanka.
We will provide a fresh Line of Credit of up to US$ 318 million for the railways sector. This will be used to procure rolling stock, and to restore and upgrade existing railway track.
We are pleased to provide assistance for the construction of the Rabindranath Tagore auditorium at Ruhuna University in Matara.
Tomorrow, I will visit, some of the projects, being financed by India, including the housing project. I am pleased that more than 27,000 houses have already been built.
The Reserve Bank of India and the Central Bank of Sri Lanka have agreed to enter into a Currency Swap Agreement of US$ 1.5 billion. This will help keep the Sri Lankan rupee stable.
We discussed the fishermen’s issue. This complex issue involves livelihood and humanitarian concerns on both sides. We should handle it from this perspective. At the same time, we need to find a long term solution to this issue.
It is also important that fishermen’s associations of India and Sri Lanka meet at the earliest to find a mutually acceptable arrangement. It can then be taken forward by both governments.
I also took this opportunity to convey our admiration for President Srinisena’s efforts to build an inclusive future for Sri Lanka.
I conveyed our sincere support and good wishes for Sri Lanka’s new journey of peace, reconciliation and progress.
We stand with you in your efforts to build a future that accommodates the aspirations of all sections of society, including the Sri Lankan Tamil community, for a life of equality, justice, peace and dignity in a united Sri Lanka.
We believe that early and full implementation of the 13th Amendment and going beyond it would contribute to this process.
I also conveyed India’s commitment to further strengthening our partnership in advancing peace and prosperity in our region, including our common maritime neighbourhood.
I would like to once again thank President Sirisena for the warm welcome and hospitality.
The meeting today has been very productive. It gives me great confidence and optimism about the future of our relations.
Thank you.
@HeinzG @Saradiel @Gibbs @Azizam
Sri Lankan, Indian central banks enter $1.5 bn currency swaps | Business Line
India to help Lanka develop regional petro hub; IOC signs pact | Business Standard News
Prime Minister Narendra Modi at the delegation level talks between India and Sri Lanka, in Colombo, Sri Lanka, on Friday.
Colombo, March 13
India and Sri Lanka today signed four agreements during Narendra Modi's maiden visit to the country, the first bilateral tour by an Indian premier in 28 years, with the Prime Minister announcing a slew of measures aimed at resetting ties with the strategic neighbour.
Prime Minister Modi, who arrived here this morning on the final stop of his three-nation tour of Indian Ocean island nations, met Lankan President Maithripala Sirisena and discussed bilateral and issues of regional importance.
"I am conscious of the significance of this visit. This is the first stand alone bilateral visit by an Indian Prime Minister since 1987," Modi said at a joint press meet with Sirisena, who was in India last month on his first foreign trip after assuming office in January.
The Prime Minister said his meeting with Sirisena has been very productive. It "gives me confidence and optimism about the future of our relations," Modi said.
The two sides signed four agreements on visa, customs, youth development and building Rabindranath Tagore memorial in Sri Lanka.
"The agreement today on cooperation between our customs authorities is a step in that direction. It will simplify trade and reduce non-tariff barriers on both sides," he said.
Modi said the progress made by two countries reflects "our shared commitment to stronger economic cooperation".
"Our trade has seen impressive growth over the past decade. I am aware of your concerns about trade with India. As I said in Delhi, we will try and address them," he said.
Modi said India stands ready to help Trincomalee become a petroleum hub and announced that New Delhi will provide a fresh Line of Credit of up to USD 318 million for the railways sector in Lanka.
"This will be used to procure rolling stock, and to restore and upgrade existing railway track," he said.
The Prime Minister also said that the Reserve Bank of India and the Central Bank of Sri Lanka have agreed to enter into a Currency Swap Agreement of USD 1.5 billion to help keep the Sri Lankan rupee stable.
He lauded the efforts of newly elected President Sirisena and assured him of all help from India.
"We stand with you in your efforts to build a future that accommodates the aspirations of all sections of society, including the Sri Lankan Tamil community, for a life of equality, justice, peace and dignity in a united Sri Lanka.
"We believe that early and full implementation of the 13th Amendment and going beyond it would contribute to this process," said Modi, who is here as part of his three-nation tour of Indian Ocean island nations that took him to Seychelles and Mauritius. PTI
India, Sri Lanka sign 4 agreements
Sri Lanka, India to partner on oil storage project - Modi
India's Prime Minister Narendra Modi (L) gestures with Sri Lanka's President Maithripala Sirisena at the Presidential Secretariat in Colombo March 13, 2015.
(Reuters) - Sri Lanka's state-run Ceylon Petroleum Corporation (CPC) and the local subsidiary of Indian Oil Corp (IOC.NS) have agreed to develop a strategic oil storage facility in Trincomalee, Prime Minister Narendra Modi said on Friday.
Speaking on the first visit to Sri Lanka by an Indian leader in nearly three decades, Modi said the project could help the island nation lying to India's southeast become a regional petroleum hub.
Sri Lanka is strategically located on a shipping route between Gulf oil exporters and Asian consumers, and the eastern port of Trincomalee served as a crucial Allied supply hub during World War Two.
"We are also focusing on new opportunities. Today Lanka IOC and Ceylon Petroleum Corporation have agreed to joint development of the upper tank farm of the China Bay installation in the Trincomalee on mutually agreed terms," Modi told reporters after meeting President Maithripala Sirisena.
"A joint task force will be constituted soon to work out themodalities. India stands ready to help Trincomalee become a regional petroleum hub."
Lanka IOC LIOC.CM, a subsidiary of Indian Oil Corporation (IOC.NS), operates 15 storage tanks out of 99 in Trincomalee. The Sri Lankan government had been considering developing the rest to increase its fuel storage capacity.
Each of the storage tanks has a capacity of around 12,000 tonnes.
(Reporting by Shihar Aneez and Ranga Sirilal; Editing by Douglas Busvine and Alan Raybould)
Sri Lanka, India to partner on oil storage project - Modi| Reuters
India’s Prime Minister Narendra Modi is on a visit to Sri Lanka, the first such trip by a serving Indian premier to the island nation in 28 years.
In a speech to the media after arriving in Colombo on Friday morning as part of a three-nation tour of the Indian Ocean, Mr. Modi said that economic ties between India and Sri Lanka are key to the relationship between the two neighbors and said that agreements he had reached with the island’s President Maithripala Sirisena, would simplify trade between the countries.
Below, in full, is the text of Mr. Modi’s speech as published on the Ministry of Foreign Affairs website.
Your Excellency Mr. Maithripala Sirisena, President of Sri Lanka,
Members of the media,
I am delighted to be in Sri Lanka, in this beautiful city of Colombo.
I have eagerly looked forward to visiting one of our closest neighbours and a nation with which we share so much.
I am truly honoured by your warm welcome and friendship.
I am conscious of the significance of this visit. It is the first standalone bilateral visit to Sri Lanka by an Indian Prime Minister since 1987.
Last month, President Sirisena honoured us by making India his first foreign visit as President. I am glad to be here so soon.
This is how it should be between neighbours. We should meet regularly.
It helps us understand each other better; find solutions to mutual concerns; and, move our relationship forward.
That is what we achieved in my meetings with President Sirisena today. Economic ties are a key pillar of our relationship.
The progress we have made reflects our shared commitment to stronger economic cooperation.
Our trade has seen impressive growth over the past decade. I am aware of your concerns about trade with India. As I said in Delhi, we will try and address them.
The agreement today on cooperation between our customs authorities is a step in that direction. It will simplify trade and reduce non-tariff barriers on both sides.
We are not just looking at addressing problems. We are also focusing on new opportunities.
Today, Lanka IOC and Ceylon Petroleum Corporation have agreed to jointly develop the Upper Tank Farm of the China Bay Installation in Trincomalee on mutually agreed terms.
A Joint Task Force will be constituted soon to work out the modalities. India stands ready to help Trincomalee become a regional petroleum hub.
I also look forward to early commencement of work on the ground in the Sampur Coal Power Project. This landmark project would meet Sri Lanka’s energy needs.
The ocean economy is a new frontier that holds enormous promise for both of us. It is a priority for our two countries. Our decision to set up a Joint Task Forceon Ocean Economy is a significant step, especially because of our proximity.
People are at the heart of our relations. We have taken a number of decisions to encourage people to people contacts, improve connectivity, and increase tourism.
We will extend the facility of “Tourist Visa on Arrival – Electronic Travel Authorization” Scheme to Sri Lankan citizens from the Sinhala and Tamil New Year on 14 April 2015.
Air India will soon start direct flights between New Delhi and Colombo.
We will cooperate in developing a Ramayana Trail in Sri Lanka and a Buddhist Circuit in India.
We will organize a Festival of India in Sri Lanka later this year. Sri Lanka is where Buddhism has truly flourished. We will be organizing an exhibition showcasing our Buddhist heritage as part of this festival.
The Memorandum of Understanding on cooperation in youth affairs is an important long term investment in our relationship.
India is privileged/ to be a development partner for Sri Lanka.
We will provide a fresh Line of Credit of up to US$ 318 million for the railways sector. This will be used to procure rolling stock, and to restore and upgrade existing railway track.
We are pleased to provide assistance for the construction of the Rabindranath Tagore auditorium at Ruhuna University in Matara.
Tomorrow, I will visit, some of the projects, being financed by India, including the housing project. I am pleased that more than 27,000 houses have already been built.
The Reserve Bank of India and the Central Bank of Sri Lanka have agreed to enter into a Currency Swap Agreement of US$ 1.5 billion. This will help keep the Sri Lankan rupee stable.
We discussed the fishermen’s issue. This complex issue involves livelihood and humanitarian concerns on both sides. We should handle it from this perspective. At the same time, we need to find a long term solution to this issue.
It is also important that fishermen’s associations of India and Sri Lanka meet at the earliest to find a mutually acceptable arrangement. It can then be taken forward by both governments.
I also took this opportunity to convey our admiration for President Srinisena’s efforts to build an inclusive future for Sri Lanka.
I conveyed our sincere support and good wishes for Sri Lanka’s new journey of peace, reconciliation and progress.
We stand with you in your efforts to build a future that accommodates the aspirations of all sections of society, including the Sri Lankan Tamil community, for a life of equality, justice, peace and dignity in a united Sri Lanka.
We believe that early and full implementation of the 13th Amendment and going beyond it would contribute to this process.
I also conveyed India’s commitment to further strengthening our partnership in advancing peace and prosperity in our region, including our common maritime neighbourhood.
I would like to once again thank President Sirisena for the warm welcome and hospitality.
The meeting today has been very productive. It gives me great confidence and optimism about the future of our relations.
Thank you.
@HeinzG @Saradiel @Gibbs @Azizam
Sri Lankan, Indian central banks enter $1.5 bn currency swaps | Business Line
India to help Lanka develop regional petro hub; IOC signs pact | Business Standard News
Tshering22
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Excellent to see these developments.
Sri Lanka, Mauritius and Seychelles are three countries we have always put secondary.
Time to ensure that these friendly countries get the right stature in the region.
Sri Lanka, Mauritius and Seychelles are three countries we have always put secondary.
Time to ensure that these friendly countries get the right stature in the region.
East or West India Best
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lankans really love India.
GURU DUTT
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dehshat gard moodi ne firse gareeb indian awaam ke paison per dekho kitni fahashi machha rakhi hai her foto mealag tarah ke kapre pehne hue hain .... gazwa e hind me iska bhi hisab liya jayega ..... yakeen janiye 
Gibbs
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Hope his plane crashes on the way back.
We should'nt be overtly negative about these things.. Cautious yes.. But remember India is the largest trading partner already
I do have lot of apprehension on their undue focus on Trincomalee.. Though
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Azizam
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The problem with these goons is that they want to interfere with every piece of internal shit in other countries. Modi for indtance is asking to implement autonomy in the north. I wouldn't have an issue with them if cooperation based on mutual respect.
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