India inks Trinco agreement with President Wickremesinghe

COLOMBO (News 1st); Sri Lanka and India on Friday (21) agreed to further develop Trincomalee as a national and regional hub of industry, energy and economic activity on the basis of mutual understanding

The relevant documents were exchanged in New Delhi in the presence of Sri Lankan President Ranil Wickremesinghe and Indian Prime Minister Narendra Modi at the Hyderabad House.

"The development of Trincomalee as an energy hub with the support of India is a crucial step towards Sri Lanka’s goal to elevate Trincomalee as a hub for industry and other economic activities," said President Ranil Wickremesinghe on Friday (21) afternoon during a joint press conference with Indian prime Minister Narendra Modi.

Trincomalee was mentioned in several areas in the India-Sri Lanka Economic Partnership Vision that was made public later on Friday (21) evening by the office of the Sri Lankan President.

It related to Maritime connectivity, Air connectivity, Energy and Power connectivity, and People-to-people Connectivity.

Maritime connectivity: To cooperate in development of ports and logistics infrastructure at Colombo, Trincomalee and Kankesanthurai with an aim to consolidate regional logistics and shipping, as per mutual understanding.

Air connectivity: That resumption of flights between Jaffna and Chennai have enhanced people-to-people ties and agreed to further expand it to Colombo as well as explore connectivity between Chennai and Trincomalee, Batticaloa and other destinations in Sri Lanka.

Energy and Power connectivity: Ongoing cooperation in development of Trincomalee Tank Farms is a reflection of to develop mutually beneficial cooperation projects in Trincomalee area, and agreed to further develop Trincomalee as a national and regional hub of industry, energy and economic activity on the basis of mutual understanding.

People-to-people Connectivity: To establish land connectivity between Sri Lanka and India for developing land access to the ports of Trincomalee and Colombo, propelling economic growth and prosperity in both Sri Lanka and India, and further consolidating millennia old relationship between the two countries. A feasibility study for such connectivity will be conducted at an early date.

In addition, Sri Lanka and India have agreed to cooperate for construction of a multi-product petroleum pipeline from Southern part of India to Sri Lanka, and mutually agreed to undertake a joint exploration and production of hydrocarbons in Sri Lanka’s offshore basins.