Former President Ranil Wickremesinghe has urged the government to prioritize finalizing the Economic and Technology Cooperation Agreement with India before pursuing trade deals with other Asian nations.
Speaking at a virtual economic forum organized by leading Sri Lankan business and professional bodies on Saturday, Wickremesinghe called for the immediate resumption of the suspended bilateral trade pact with New Delhi.
The former leader highlighted India’s trajectory toward becoming the world’s third largest economy, emphasizing its dominant military and maritime presence across the Indian Ocean.
He noted that global power dynamics were shifting beyond the traditional influence of the United States, China, and Russia, making deep engagement with India essential for Sri Lanka.
Reflecting on regional security, Wickremesinghe emphasized that bilateral ties should adhere to the historical principles of the 1987 letters exchanged between Rajiv Gandhi and J.R. Jayewardene, ensuring neither nation undermines the security of the other.
He observed that strategic competition was intensifying as China expands its reach into the Bay of Bengal, turning neighboring states like Myanmar and Bangladesh into focal points of diplomatic influence.
However, he pointed out that both Asian powers share membership in the BRICS bloc, requiring them to establish a mutual understanding on regional development and stability.
Establishing the trade pact with India remains a critical strategic milestone for Sri Lanka’s economic integration and foreign policy balance in a rapidly changing region.
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