Ocean Hub: Latest News

COLOMBO (News 1st) – Sri Lankan Foreign Affairs Minister Ali Sabry told the Indian Ocean Rim Association session in Bangladesh on Thursday (24) that Sri Lanka is poised and is well positioned to be one of the major trading hubs of the Indian Ocean, addign that the country has demonstrated manifestly significant openness to trade and commerce.He emphasised the significance and necessity of actively engaging with the countries of the Indian Ocean Rim to mutually advance the economic and commercial interests of Sri Lanka as well as to maintain peace and stability in the region of Indian Ocean. He further stressed that Sri Lanka’s commitment to the matters that concern the Indian Ocean region remains one of the key cornerstones of the current economic and foreign policy of Sri Lanka. Minister highlighted that Sri Lanka is strategically positioned at the centre of one of the busiest sea lanes of the world, adding that Sri Lanka’s traditional and ancient links with the countries of the IORM go back many centuries and empirical evidence reveals that Sri Lanka’s geographical centrality markedly facilitated and aided maritime commerce and trade over the centuries.Given its progression as an Indian Ocean Hub, Sri Lanka has emerged as one of the most pivotal shipping lanes since two-thirds of the petroleum products and half of the container shipments of the world criss-cross close to the Southern coast of the Island.The Minister apprised the member states at the Council of Ministers of the IORA concerning Sri Lanka’s efforts in sustainable and efficacious usage of maritime resources and immense ocean pollution challenges as well as projects and programs implemented to safeguard the coastal belt and the Indian Ocean. This is to