INDO JAPAN MASTER PLAN DISPUTE

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On January13, 2021, Sri Lanka’s president Gotabaya Rajapaksa announced the revival of an Indian and Japanese investment project to develop a deep- sea terminal in Colombo Harbor. The tripartite deal signed by Sri Lanka’s previous government in 2019, had been on hold amid trade union resistance. And it’s also have not been even started to be constructed and doesn’t even look like as a port but before going further lets just look out on the brief background of this deal. On 2018- Negotiation on development Colombo’s dep sea terminal begin.2019- In may Sri Lanka, Japan and India sign an agreement to jointly develop the East container terminal at Colombo Port. The joint initiative is estimated to cost between $500 million and $700 Million. When this deal was initiated on 2019 In Sri Lanka there was different government was ruling and after 2019 another government took place and after they made some changes regarding the port. According to the deal, the Sri Lanka Ports authority (SLPA)was to have 100% ownership of the East container Terminal (ECT). The firm conducting its operations the Terminal operation company was the jointly owned. Sri Lanka was to hold 51% stakes in the project and the joint venture partner retain 49%. Inn this point Japan have decided to provide 40year soft loan to Sri Lanka with a 0.1% interest rate, for developing the port. Bu ton 2019 former government loses the election they seemed that they are not being too friendly for China, they would rather like to balance between India and Japan. On 2020 Sri Lanka’s Sinhala Buddhist nationalist port workers opposed they project by saying they would be allowed Indian imperialism and threaten Sri Lank’s serenity. After that project put on hold after considerable opposition and they didn’t want upset their own consistency they put on hold on the port but on 2021 Indian External Affairs Ministers S. Jaishankar’s visit to Colombo during he reportedly urged the Sri Lanka side to finalize the deal. Sri Lanka president announced the revival of the deal the president assured worker union that the ECT will not be sold or leased, right now Sri Lanka desperately needs up its growth.

But why India and Sri Lanka need that port desperately?

49% of the investment will come from the Adani group and other stakehollder of India will invest in thus project including Japan this will not only make easy to import and export but also will give a push to the economy to both of the country, Sri Lanka will not be restoring any loans regarding the port so it will be totally a fair business between two countries. It will be all investment

The deep-sea terminal is located terminal only 3 kilometers from the Colombo integration container terminal which is 85% owned by China and was commissioned in 2013. The SLPA owns only the remaining 15% of share and all 85% holds by chine government and India doesn’t want to share any ground in this port.

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