SL’s Asia focus to grow: PM

Prime Minister Ranil Wickremesinghe has backed Sri Lanka spearheading closer trade relations in Asia insisting that the rebalancing of power with the West would create greater economic opportunities and be the deciding factor in forging a peaceful global future. 

Wickremesinghe addressing the Convocation of the Bandaranike International Diplomatic Training Institute on Thursday recapped the sweeping political changes in the West including Brexit and the election of Donald Trump as the next president of America.    

“There are many who fear the coming to be of an isolationist USA and an inward looking UK but I don’t think either of those will happen. At the moment, the Government of UK is looking for a new role in the world, having left the single market. So it’s a new game for the UK and the rest of the European Union. What we are seeing now is the end of the post-cold war order,” he said in an insightful analysis of international relations. 

The Prime Minister also called on State institutions including the Foreign Ministry, Foreign Employment Ministry and International Trade and Development Strategies Ministry as well as other trade-related departments to work together to be nimble enough to make use of these shifting global trends.   

Confident that Asian countries’ growth would continue, added onto by India, the Prime Minister also noted China would continue to redefine and expand its role in Asia. The fate of the Trans-Pacific Partnership (TPP) that was the cornerstone of President-elect Donald Trump would in some ways be a misplaced concern because Asian countries would attempt to move ahead despite the absence of the US. 

“With or without America, Asia must forge ahead with setting up closer trade relations. How are we going ahead? Firstly the US is not writing off trade. It has said it will do a case by case evaluation of trade deals. Even without TPP Asian markets are open to the US.” 

China’s one-belt one-road initiative will continue to evolve and new chapters will be forged, much like it has with Sri Lanka. Wickremesinghe also expressed confidence that India would continue to have stronger foreign policies and stressed that Sri Lanka should look to see how stronger cooperation can be fostered. 

“Sri Lanka is looking at creating trade agreements that would cover a billion people in the Bay of Bengal. We have to accept there will be rivalries but they all have the same aim of trying to create trade within Asia. This part of the world has to create a larger consumer market with a larger middle class, which would encourage the US to start dealing with these countries. 

 “In Sri Lanka today you find China, India and Japan. The Chinese ‘one belt’ initiative has resulted in the industrialisation of Hambantota. With Japan we are discussing the development of Colombo and Kandy, while a Singaporean company is creating a Master Plan for Trincomalee. India will also be involved. So, look; all of them are in Sri Lanka and no one is fighting. It is up to us to manage our relationships and friendships in the neighborhood and Asia. Sri Lanka has a duty to push for stronger trade relations in Asia.”

He also advocated for Sri Lanka to be among counties that would assure freedom of navigation in the Indian Ocean but ensure maritime interests of countries such as Vietnam are safeguarded. The rise of Asia does not mean the fall of the West, insisted the Prime Minister who said, “GDP-wise Asia will be big but per capita GDP still belongs to the West. How Asia looks at its relationship with the West is what will decide the future.”