President RW affirms commitment to ASEAN’s vision for Indo-Pacific growth

 President Ranil Wickremesinghe at the 56th ASEAN Day commemoration 

• Underscores Sri Lanka’s readiness to actively engage in regional economic partnerships to achieve ambitious economic goals
• Highlights need for closer ties, regular ministerial-level meetings with ASEAN countries to address shared concerns
• Calls for collaborative efforts to combat climate change, harness potential of blue-green economy
• Says intention to join RCEP will materialise after debt optimisation initiatives
• Indonesian Ambassador Dewi Gustina Tobing stresses on importance of people-to-people connections, closer link between two regions

President Ranil Wickremesinghe articulated a resolute commitment to strengthening economic ties and connectivity within the broader Asian region, marking a significant step toward realising Sri Lanka’s economic aspirations. 

Speaking at the 56th-anniversary celebration of the Association of South East Asian Nations (ASEAN) yesterday, the President aligned Sri Lanka’s vision with the future trajectory of ASEAN for the Indo-Pacific region, pledging unwavering support for this strategic perspective.

The President’s remarks underscored Sri Lanka’s readiness to actively engage in regional economic partnerships to achieve its ambitious economic goals.

Acknowledging the contributions of key figures such as former President J. R. Jayawardena, President Wickremesinghe highlighted critical timelines in the country’s economic trajectory; notably, the decision to decline an invitation to join ASEAN in its formative years had significant implications for Sri Lanka’s growth potential.

President Wickrem-esinghe remarked on the subsequent shift toward a socialist economic model, which hindered capital formations and limited the nation’s growth over the years. 

“Though, we find ourselves not entirely liberated from the constraints imposed by that economic paradigm. At present, despite being positioned as one of the world’s major economies, poised to potentially ascend to the ranks of the fifth or fourth-largest expanding economies, we now confront the disheartening reality of shaking on the brink of bankruptcy after 55 years of existence,” he added.

He also lauded the remarkable growth of ASEAN as one of the world’s largest economic blocs, expressing regret for the missed opportunity to join the association’s early years. 

Recognising the urgency of addressing financial challenges, the President reiterated a commitment to strengthen bonds with ASEAN nations. “These alliances are positioned to drive shared interests and regional cooperation, helping Sri Lanka rejuvenate its economic prospects. A central pillar of this new policy is the initiation of free trade agreements with ASEAN countries,” he said.

The President’s address also highlighted the need for closer ties and regular ministerial-level meetings with ASEAN countries to address shared concerns. He stressed the significance of upholding the ASEAN outlook on the Indo-Pacific and supporting Indonesia’s maritime fulcrum concept.

He emphasised the importance of unity and cooperation, particularly in the face of challenges such as climate change and called for collaborative efforts between ASEAN countries and Sri Lanka to combat climate change and harness the potential of the blue-green economy.

President Wickremesinghe disclosed that Sri Lanka has already forged a crucial trade agreement with Singapore and is actively engaged in negotiations with Thailand.  Additionally, he also announced that Sri Lanka’s intention to join the Regional Comprehensive Economic Partnership (RCEP) is poised to materialise following the conclusion of credit optimisation initiatives.

Indonesian Ambassador Dewi Gustina Tobing echoed the sentiment that Sri Lanka is a vital partner for regional cooperation. 

She emphasised fostering stronger ties between ASEAN and Sri Lanka, outlining the importance of people-to-people connections and creating a closer link between the two regions. 

The Ambassador reiterated ASEAN’s aspiration for a peaceful, stable, and prosperous Indo-Pacific region.

With a collective population exceeding 670 million, ASEAN represents a substantial market and is committed to inclusive regional architecture and security.

The event saw the attendance of prominent dignitaries, including Speaker Mahinda Yapa Abeywardena, several ministers, ambassadors, and officials from ASEAN countries, underscoring the significance of the occasion and the commitment to strengthening regional ties.