SHAFAQNA PAKISTAN (Shia News Agency)
Soon after the departure of Mahinda Rajapaksa, new Srilankan President break the ice with India and made his first visit, sealing a nuclear deal with India. This move may push back china. Reuters writes. “India sealed a nuclear energy agreement with Sri Lanka on Monday, its first breakthrough with the new government of the tiny Indian Ocean island where China has been building ports and highways in a diplomatic push in recent years”. China is Sri Lanka’s biggest source of foreign direct investment (FDI) as well as providing development loans for projects such as the $500 million new Colombo Port Terminal, Hambantota Port, Sri Lanka’s first four-lane expressway, and a new National Theatre, among others. These lucrative benefits for Sri Lanka have played a pivotal role in building the current relationship. Apart from this The recent commitment from Sri Lanka to join the Maritime Silk Road (MSR) indicates the proximity of the two states’ strategic aspirations and is a reflection of the assimilation of national interests. The Indian Ocean ports of Gwadar in Pakistan, Hambantota in Sri Lanka and Chittagong in Bangladesh have all benefited from Chinese investment and account for 30 percent of global trade, according to Indian Ocean Rim Association.
Despite a huge investment of China in SriLanka, growing India-Sri Lankan ties would be a huge setback for the country. After Obama’s visit India is rapidly increasing its influence in the region which has set alarming bells for China.
pakistan.shafaqna.com
