Defense Agreement with India Formalizes Ongoing Operations, Says Sri Lanka's AKD

COLOMBO (News 1st); Sri Lankan President Anura Kumara Dissanayake has clarified that the recently signed defense cooperation agreement with India is intended to streamline and formalize existing operations.

He made this announcement during a public meeting in Galle (7).

The President emphasized the challenging geopolitical situation and acknowledged that recent decisions could impact exports. He assured the public that the government is taking all necessary measures to address these issues and prevent an economic downturn. He expressed confidence in the country's economic trajectory, despite potential global economic influences, and called for national unity in facing these challenges.

President Dissanayake highlighted that the current situation is not the result of any single government or political decision but a broader geopolitical issue that requires a united national response. He urged the public to prepare for these challenges collectively, emphasizing that every country has the right to determine its own duties and taxes, and this principle must be upheld.

In his address, the President mentioned his recent meeting with the International Monetary Fund (IMF), where specific parameters for the year were outlined. He expressed optimism about securing the necessary support, noting that the recent visit by the Indian Prime Minister to Sri Lanka was a significant success. During this visit, Sri Lanka secured a soft loan from the EXIM Bank, with agreements to reduce the interest rate and extend the repayment period, along with a 10 billion grant.

President Dissanayake stressed that these efforts are for the betterment of the country and its people, not for personal gain. He addressed concerns about the defense cooperation pact with India, explaining that joint operations and training sessions were already in progress, and the pact simply formalizes these activities. He underscored the importance of regional protection and the need for support from more advanced countries to move forward.

Reflecting on the past, the President remarked that if previous leaders had worked more diligently over the past 76 years, the country might be in a better position today. He reaffirmed the government's commitment to working towards the prosperity of the country and its people.