Indian media reports that a very important agreement on defence cooperation is set to be signed between the two countries during the Indian Prime Minister’s scheduled visit to Sri Lanka in the first week of April.
This agreement will be the most important agreement on defence cooperation signed between the two countries since the Indo-Lanka Agreement signed in 1987, says the Hindustan Times newspaper.
Indian Prime Minister Narendra Modi’s visit will be an opportunity for the Indian government to strengthen ties between the two countries in crucial areas ranging from defence, energy and infrastructure, according to Indian media.
In the economic sector, the two sides are expected to finalize key agreements between the Reserve Bank of India (RBI) and the Central Bank of Sri Lanka (CBSL) for debt restructuring and extension of a currency swap agreement, while a trilateral agreement between India, Sri Lanka and the United Arab Emirates (UAE) for the development of Trincomalee oil tankers is also expected to be unveiled during the visit.