Japan and India to develop Colombo Port
As the Indian Ocean Region becomes more integral in global trade and international sea trade routes, the Governments of Japan, India and Sri Lanka have agreed to jointly develop the Colombo Port.
Asia Nikkei has reported that the goal of the project is to increase the ports container volume and enhance sea trade and marine activity around the South Asian region.
The three countries will develop the East container terminal, located at the south part of the Port of Colombo, which has been newly expanded. They will deepen it and develop a facility to allow large container ships to enter.
With Japan also aspiring to play a significant role in the area pushing its Free and Open Pacific Ocean and Indian Ocean strategy the three partners will sign a memorandum of understanding by summer, and work will begin by next March it has been reported.
China’s increased activity and influence in the South Asian region under the Belt and Road projects have been much cause for concern amongst nations such as India and the United States.
Western governments have often criticized the power dynamics in the region, saying Sri Lanka handed over its southern port of Hambantota to China on a 99-year lease after it fell into a debt trap. Source: Asia Nikkei