President Ranil Wickremesinghe and Indonesian President Joko Widodo reaffirmed their commitment to strengthening the longstanding relationship between their nations during a bilateral meeting at the 10th World Water Summit held in Bali, Indonesia.
The discussions, which covered a wide range of regional and international issues, underscored the importance of collaboration in addressing global challenges.
A major topic of discussion was the critical issue of water management. President Wickremesinghe emphasized the importance of the World Water Summit and expressed Sri Lanka’s willingness to participate in the Global Blended Financial Alliance, an initiative aimed at addressing common financial challenges faced by countries in managing water resources. He commended Indonesia for establishing a Secretariat for the Alliance, recognizing its significance for Sri Lanka.
President Widodo focused on the economic cooperation between the two countries. He stressed the need to finalize the Preferential Trade Agreement (PTA) by the first quarter of 2025 to enhance economic ties. Additionally, he highlighted Indonesia’s interest in entering the Sri Lankan vaccine market through Indonesian pharmaceutical companies, and called for the lifting of import restrictions on Indonesian palm oil and related products.
The Indonesian President also showcased Indonesia’s advancements in renewable energy, specifically the country’s largest floating solar power project. He emphasized the importance of hydro diplomacy and political leadership in achieving sustainable water management and development goals. Furthermore, he welcomed Sri Lanka’s leadership in the Indian Ocean Rim Association and its aspirations to become a sectoral dialogue partner.
President Wickremesinghe reiterated the importance of completing the PTA by early 2025, noting Sri Lanka’s existing free trade agreements with India, and Singapore, and ongoing negotiations with Thailand, Bangladesh, and Malaysia.
He emphasized the potential benefits of joining the Regional Comprehensive Economic Partnership (RCEP), suggesting that Sri Lanka’s inclusion could encourage other South Asian countries to follow suit.
He also mentioned the ongoing removal of import restrictions and assured that Sri Lankan health authorities would address the entry of Indonesian pharmaceuticals into the market.
The discussion also touched upon regional security and economic cooperation in the Indian Ocean. President Wickremesinghe supported ASEAN’s Indo-Pacific outlook and stressed the need for closer bilateral and regional cooperation regarding Indian Ocean affairs. He proposed more frequent meetings between heads of government and a specific bilateral agreement with Indonesia to enhance commercial collaboration in the region.
President Widodo thanked Sri Lanka for co-sponsoring the Global Blended Financial Alliance, emphasizing its role in achieving sustainable development goals and called for continued collaboration between relevant ministries from both countries to support this initiative.
