Government plans to further develop Colombo container terminal
The government has plans to develop the Colombo container terminal to become the largest in South East Asia to provide berthing facilities for large ships and tankers.
The Trincomale harbour will also be developed to make it an economic hub and for larger ships to be handled there, said the State Minister of Defense Ruwan Wijewardene, Chief Guest at the Asia Logistics Forum held at the Cinnamon Grand Hotel Colombo on Tuesday.
“Sri Lanka will continue its excellent relationship with India, China, Australia, the US and the European Union and maintain the neutrality of the Indian Ocean and in the Bay of Bengal.” He said many of these countries have come forward to assist Sri Lanka to maintain its neutrality in the Bay of Bengal.
He said after decades of neglect the Bay of Bengal has now become strategically and economically important where 1.4 billion people live along its border.
The seven countries located in the Bay of Bengal are Bangladesh, Bhutan India, Myanmar, Nepal, Thailand and Sri Lanka that have a combined GDP of US$2.7 trillion and an average economic growth rate of 5.5 per cent. The five countries that share the border of the Bay of Bengal,Bangladesh, India, Myanmar Thailand and Sri Lanka have come together to form the BIMSTEC alliance to cooperate in economic development in the region.
He said the idea is to facilitate trade in the Indian Ocean. ”We are also mindful of new logistics including new technology, etc. The challenge for Sri Lanka is to provide logistics support for providers to make their base and to facilitate their requirement needs. The total volume handled by the Colombo Port last year was 7 million TEU of which 70-80 was cargo transshipments. The development of the Colombo Port was delayed by 10 years and the Indian ports being developed can affect cargo transshipment cargo at the Colombo Port.
Referring to Sri Lanka’s strategic location, he said it had been a dominant feature affecting local and international interaction from ancient days. Since the focus is on South East Asia one is compelled to discuss Sri Lanka and its important contribution towards logistics, security and towards the hospitality industry. Global trade and global security have become concerns at a higher threshold, he said.