Sri Lanka hopes for stronger relations with Saudi Arabia

Sri Lanka’s Foreign Minister Ali Sabry, right, greets a delegation from the Saudi Fund for Development in Colombo on Feb. 27, 2023. (Sri Lankan Ministry of Foreign Affairs)
Short Url
Updated 27 February 2023
Follow

Sri Lanka hopes for stronger relations with Saudi Arabia

  • Sri Lanka last year had series of high-level engagements with Kingdom
  • Crisis-hit nation still working on unlocking a $2.9bn bailout from IMF

COLOMBO: Sri Lanka was expecting its long-standing ties with Saudi Arabia to grow stronger, Foreign Minister Ali Sabry said on Monday, after meeting with a delegation from the Saudi Fund for Development.

Sabry hosted the Saudi delegation led by Mohammed Almasoud, the SFD’s director of central and west Asia operations, in the capital Colombo and said Sri Lanka was grateful for the fund’s “continuous assistance despite challenges” as well its support on an extension of an International Monetary Fund loan.

“The longstanding Sri Lanka-Saudi bilateral relationship will grow from strength to strength,” Sabry said in a tweet.

The minister visited the Kingdom last month, discussing with his Saudi counterpart Prince Faisal bin Farhan ways to boost economic and energy cooperation between the two countries.

Sabry had then presented Sri Lanka as a gateway to not only south Asia but the rest of the continent – an “ideal place” to do business. His trip followed a series of high-level engagements by Sri Lankan officials with the Kingdom last year.

During Monday’s meeting, the Saudi government pledged to continue providing financial assistance for projects in Sri Lanka, Sri Lankan lawmaker Mohamed Shariff Thowfeek said after taking part in the talks.

“This was a great gesture from the Saudi government at a time when some countries have stopped their aid in the midst of the economic crisis,” Thowfeek told Arab News.

The SFD has given at least 15 development loans worth $425 million to Sri Lanka, which have financed various projects in water, energy, health, roads, and education. This has included support for the development of the PBC Highway, which connects the country’s central and eastern provinces.

Thowfeek said the SFD would also help finance construction of a bridge in eastern Sri Lanka, which cost around $5.4 million.

The island nation of 22 million people is facing its worst financial crisis since independence from Britain in 1948, with challenges ranging from a shortage of dollars to runaway inflation and a steep recession.

Sri Lankan officials are working on reaching a final agreement with the IMF to unlock a $2.9 billion bailout essential to put its battered economy back on track.


Japan PM’s big election win could mean more beef with Beijing

Updated 3 sec ago
Follow

Japan PM’s big election win could mean more beef with Beijing

TOKYO: Japanese Prime Minister Sanae Takaichi’s thumping election win has blunted domestic opposition to her hawkish security agenda, encouraging plans to press ahead with a defense expansion that China has condemned as a return ​to militarism. As the scale of her government’s historic victory became clear on Sunday — capturing 352 of the 465 seats in the lower house — Takaichi said she would “work flat out to deliver” an agenda that includes building a military strong enough to deter Chinese threats to its islands, including those close to Taiwan. In November, Takaichi touched off a diplomatic storm with Beijing by suggesting Japan could respond militarily to any Chinese attack on the democratically governed island if it also threatened Japanese territory.

STANDING UP TO CHINA
“I expect to see Japan very forward-leaning on defense policy, such as her statements on a Taiwan contingency,” said Kevin Maher, a former US diplomat now with NMV Consulting in Washington. “One impact could be that President Xi Jinping comes to ‌understand her strong ‌stance,” he added.
China
responded furiously
to Takaichi’s Taiwan comment, promising to “resolutely prevent the resurgence of ‌Japanese ⁠militarism” ​if Tokyo continued ‌on its “wrong path.” Beijing also imposed a series of economic countermeasures including a boycott on travel to Japan and export restrictions on items such as rare earths it says Tokyo could use in military equipment.
Shingo Yamagami, a senior fellow at the Sasakawa Peace Foundation and a former Japanese ambassador to Australia, said the “hidden agenda” of the Sunday election was China.
“In light of belligerent actions and waves of economic coercion, should Japan acquiesce or stand tall?” he wrote on X. “The Japanese people clearly chose the latter.”
Taiwan’s de facto ambassador to Japan, Lee Yi-yang, was among the first foreign dignitaries to congratulate Takaichi, writing on Facebook that her victory showed ⁠Japan was not intimidated by China’s “threats and pressure.”
China’s foreign ministry on Monday again
urged Takaichi
to withdraw her remarks on Taiwan and said its policy toward Japan would not ‌be changed by one election.
“We urge Japan’s ruling authorities to take ‍seriously, rather than ignore, the concerns of the international community, and ‍to pursue the path of peaceful development instead of repeating the mistakes of militarism,” foreign ministry spokesman Lin Jian said.

SECURITY ‍STRATEGY Takaichi, a fan of Britain’s former leader Margaret Thatcher, is already accelerating defense spending to bring it to a record 2 percent of gross domestic product by the end of March. She has also pledged to ease restrictions on arms exports and allow Japan to pursue joint defense equipment projects with other countries.
Her administration plans to formulate a new national security strategy, likely by year end, that would further accelerate ​military spending.
That could lift defense outlays to around 3 percent of GDP, an LDP lawmaker told Reuters ahead of Sunday’s election, speaking on condition of anonymity because of the sensitivity surrounding such a move.
The potential ⁠increase would follow pressure from US President Donald Trump on Washington’s allies to raise defense spending.
Drawing lessons from nearly four years of war in Ukraine, Japan wants to build up munitions stockpiles and buy new equipment, including drones, to prepare for any prolonged conflict against a more powerful adversary, analysts say. The scale of Takaichi’s security ambitions could, however, be constrained by tax cuts and economic stimulus measures that would strain public finances, said Jeffrey Hornung, an expert on Japanese security policy at the RAND Corporation.
“Maybe you’ll see an effort to spend more, but because of her plans to spend on consumer measures, they may not choose to push much further,” he said.
The landslide victory could also bring a long-taboo security goal into view, one that would not burden public finances.
With more than a two-thirds majority in the lower house, she could table an amendment to Japan’s pacifist constitution to formally recognize the Self-Defense Forces as a military. Any such change would still require a two-thirds majority in the upper house — which she does ‌not currently control — and approval in a national referendum.
“It’s not a slam dunk,” Hornung said, “but probably the best chance for any prime minister.”