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US Envoy pushes for Indian stake in ECT

27 Jan 2021

Amidst heated nationwide debates on the matter, US Ambassador Alaina B. Teplitz believes that India should have a stake in the Colombo Port’s East Container Terminal (ECT). “Obviously, with India being the beneficiary of Sri Lanka's port facilities through all trans-shipment activities that take place, along with the unloading and shipments to smaller Indian ports, having an Indian company with a stake here, I would think, is essential to Sri Lanka's maritime future,” she told reporters yesterday (26). She expressed these views in response to a question posed during a virtual meeting held with a group of journalists. Much controversy has arisen over the ECT with the trade unions attached to the Port opposing the Government’s decision to give a 49% stake of it to parties outside of Sri Lanka. The Indian company whose name has come up in connection with the matter is the Adani Group while the other country that is associated with the matter is Japan. Ambassador Teplitz added that Sri Lanka should be looking for the best value in its economic arrangements and that in this regard, having private sector involvement was “very good”. “Looking at the business arrangements, and finding something that is sustainable and beneficial and gives your key business partner a stake, is a no-brainer in terms of a deal for this country,” she added. US and India enjoy a strong relationship, with the former viewing the latter as its greatest ally in Asia, and a counterforce to its main rival China’s dominance in the region, due to the similar populations of the two Asian giants and India’s economic potential. The relationship between US and India is expected to be strengthened further under new US President Joe Biden.


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