{"id":67806,"date":"2020-02-25T20:03:02","date_gmt":"2020-02-26T01:03:02","guid":{"rendered":"http:\/\/dbsjeyaraj.com\/dbsj\/?p=67806"},"modified":"2020-02-25T22:58:56","modified_gmt":"2020-02-26T03:58:56","slug":"ranil-wickremesinghe-proposes-an-economic-integration-road-map-conceptualise-a-sub-region-consisting-of-the-five-south-indian-states-and-sri-lanka-to-tap-the-total-popul","status":"publish","type":"post","link":"https:\/\/dbsjeyaraj.com\/dbsj\/?p=67806","title":{"rendered":"Ranil Wickremesinghe Proposes an \u2018Economic Integration Road Map” Conceptualising a \u201csub-region\u201d Consisting of the five South Indian states and Sri Lanka to Tap the Total Population of 300 Million People and a Combined GDP of Over $500 Billion."},"content":{"rendered":"

By<\/p>\n

Meera Srinivasan<\/strong><\/p>\n

Successful regional integration \u2014 both economic and security \u2014 depends on the South Asian Association for Regional Cooperation (SAARC) becoming fully functional at the highest levels, Sri Lanka\u2019s former Prime Minister Ranil Wickremesinghe said.<\/p>\n

Emphasising the need for countries in the region to link up both strategically and economically, Mr. Wickremesinghe said the postponement of the Kathmandu SAARC Summit in 2017 due to heightened tensions between India and Pakistan had brought the regional grouping \u201cto a standstill\u201d.<\/p>\n

Urging the neighbours to iron out differences \u2014 including on cross-border terrorism \u2014 he said, \u201cOtherwise you may find outsiders coming and telling [you] sort it out…not us in South Asia.\u201d<\/p>\n

\u201cSAARC is deadlocked. While BIMSTEC is not a substitute for SAARC, it is, nevertheless a starting point for integration,\u201d he said, in his keynote address at The Huddle, a two-day thought conclave organised by The Hindu in Bengaluru.<\/p>\n

<\/p>\n

Integration road map<\/strong><\/p>\n

Proposing an \u2018Economic Integration Road Map (EIRM)\u2019, Mr. Wickremesinghe said it was important to conceptualise a \u201csub-region\u201d, consisting of the five southern states of India, and Sri Lanka, to tap the total population of 300 million people and a combined GDP of over $500 billion.<\/strong><\/em><\/p>\n

Addressing para-tariffs and non-tariff barriers for successful regional integration, tapping e-commerce and enhancing tourism were crucial to such a road map, Mr. Wickremesinghe said.<\/p>\n

\u201cThe Bay of Bengal is the largest bay in the world, dotted with famous cities and scenic beaches including the Andaman Islands and Phuket. Cruise tourism catering to millions of the emerging Asian middle classes, is a new commercial opening for the region,\u201d he said.<\/p>\n

The EIRM, he said, must not only be market-driven and but also be able to provide a deeper integration than the ASEAN-led RCEP ((Regional Comprehensive Economic Partnership) agreement, Mr. Wickremesinghe said. \u201cI would suggest that the negotiations for such an agreement be concluded in two years,\u201d he added.<\/p>\n

Deep-pocket diplomacy<\/strong><\/p>\n

Responding to a question from the audience, in a discussion moderated by The Hindu Group Publishing Chairman N. Ram, on Sri Lanka leasing out its southern Hambantota Port to China for 99 years, the former Premier spoke of his government then mulling options to deal with the debt on the project.<\/p>\n

Mr. Wickremesinghe\u2019s government, which rose to power in 2015, tried renegotiating the deal [that former President Mahinda Rajapaksa had originally signed] with China, and President Xi Jinping \u201cdidn\u2019t take a hard-line stand\u201d.<\/p>\n

In turn, the Sri Lankan government ensured that all security aspects were under its control. \u201cWe won\u2019t allow our soil to be used for any action that is deemed to be hostile to India,\u201d he told the audience, invoking instant applause. <\/p>\n

\u201cI feel that the Chinese at the moment cannot bring their big ships [to our region]. It is basically very strong economic diplomacy that they are into, and it is a question of how to respond,\u201d Mr. Wickremesinghe said.<\/p>\n

India cannot respond unless it opens up, he observed. \u201cIf you want a deep pocket like China, you have to carry out these changes.\u201d<\/p>\n

Courtesy:The Hindu<\/em><\/p>\n

Tweet<\/a><\/div>","protected":false},"excerpt":{"rendered":"

By Meera Srinivasan Successful regional integration \u2014 both economic and security \u2014 depends on the South Asian Association for Regional Cooperation (SAARC) becoming fully functional at the highest levels, Sri Lanka\u2019s former Prime Minister Ranil Wickremesinghe said. Emphasising the need for countries in the region to link up both strategically and economically, Mr. Wickremesinghe said …<\/p>\n

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