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Home Business & Finance Economic Policies

Sri Lanka’s CAI lists around 915 mln units of 5-yr closed end fund on local exchange todayheadline

March 21, 2025
in Economic Policies
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ECONOMYNEXT – Sri Lanka is strategically vital for the Indo-Pacific region amid rising co-operation among authoritative nations, Commander of the U.S. Indo-Pacific Command (INDOPACOM), Admiral Samuel J. Paparo said.

“The Indo-Pacific isn’t just vital to our militaries, it’s the engine of global prosperity,” Paparo said in Colombo at a meeting with top military officers.

“These waters carry over half of the world’s trade and the security environment we shape today will determine the nations’ future generations.”

Sri Lanka’s key position at the crossroads of the Indian Ocean is strategically vital, he said.

“These shores border key sea lanes that connect the Pacific to the Indian Ocean and to all seas,” he said.

“This geography allows Sri Lanka to influence maritime activities crucial to the entire Pacific.”

Some nations were threatening regional stability and international norms, by the ‘assertive behavior’ directly affecting freedom of navigation vital to commerce, he said.

“We see increased military cooperation among authoritarian nations, creating strategic challenges that demand immediate attention,”

“This is why strengthening democratic partnerships is imperative.”

Sri Lanka had joined peacekeeping mission and joined the Operation Prosperity and was leading the Combined Task Force 154 activity, making the country an essential partner, he said.

“We back our commitments with action, with shared intelligence capabilities, with joint and combined exercises, with professional military education, with advanced technology partnerships,” he said.

“And we together deliver real security results. We all recognize that securing these vast waters requires collaborative effort from all regional partners committed to peace and stability.”

The US has transferred three Coast Guard cutters to Sri Lanka and another one was expected next January. A Beechcraft reconnaissance aircraft was also provided.

The US was also working on providing two C-130 aircraft and H-57 helicopters. (Colombo/Mar20/2025)


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