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Sri Lanka’s BRICS Bid: A strategic move to boost economic growth and non-aligned diplomacy

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Ramindu Perera

By Rathindra Kuruwita

India’s involvement with China in BRICS is a boon for Sri Lanka, as it helps the country address concerns from Western nations about its potential inclusion in the organisation, Ramindu Perera, senior lecturer at the Open University Law Faculty and a member of the Federation of University Teachers Association (FUTA), told The Island yesterday (24).

Perera pointed out that while India had border disputes with China, it still collaborated with the Chinese on economic matters.

“India is now a key ally of the United States, which approaches South Asia through India. However, India remains a BRICS member and maintains close economic ties with China and Russia. India recognises the economic shift taking place in the East and seeks to capitalise on it. This position is advantageous to Sri Lanka,” he stated.

Perera also said that Sri Lanka has formally begun the application process to join BRICS and the New Development Bank this week. President Anura Kumara Dissanayake has written to his Russian counterpart, Vladimir Putin, expressing Sri Lanka’s interest in BRICS membership, while Foreign Minister Vijitha Herath has sought the support of his BRICS counterparts.

“This decision to join BRICS was not made by the National People’s Power (NPP) government alone. The previous Cabinet had approved the decision, and the NPP is merely continuing that policy,” Perera explained.

He emphasised that Sri Lanka has submitted its BRICS application with India’s official endorsement, ensuring all necessary diplomatic bases have been covered. “This signals to the West that, while we are joining BRICS, we have no intention of fostering conflict. In fact, we can position this as a continuation of our long-standing non-alignment policy, demonstrating that we are not interested in aligning with competing geopolitical blocs but instead seek to work with all for the country’s benefit,” he added.

Perera noted that when BRICS was established in 2009 with Brazil, Russia, India, China, and South Africa, many were sceptical about its chances of success due to internal conflicts between some member nations. However, as BRICS demonstrated its effectiveness, numerous nations from the Global South have expressed interest in joining the group.

“Countries like Iran, Egypt, Ethiopia, and the United Arab Emirates have recently joined BRICS. Over 30 others, including Sri Lanka, Indonesia, and Argentina, have shown their desire to join the organisation,” Perera said.

The New Development Bank, formerly known as the BRICS Development Bank, while not yet as established as the World Bank, has already funded several projects. One criticism of the World Bank, he mentioned, is its voting system, which allocates votes based on a member’s share of the Bank’s capital stock. “Since the US and EU countries have contributed the most to the World Bank’s capital stock, they hold more voting power. The World Bank has been accused of operating according to the interests of these nations. In contrast, the New Development Bank’s constitution grants each member country only one vote. Furthermore, the World Bank’s loans often come with conditions that have been criticised by developmental economists,” he noted.

Perera expressed confidence that Sri Lanka is likely to secure BRICS membership.

He further stressed the urgency of economic growth as Sri Lanka faces the need to begin repaying its foreign debt by 2028. To achieve this, the country requires capital to develop strategic sectors, which is essential for sustainable debt repayment. “The agreement we reach with BRICS could assist in securing some of that capital. We must remember that BRICS is composed of rapidly developing economies, and being part of it could also help us attract investments,” he said.

The IMF has mandated that Sri Lanka’s government income must reach 15 percent of GDP by 2028. Without economic expansion, the state will struggle to increase its tax revenue, Perera concluded. “We must not think of BRICS as a jaunt against World Bank, the IMF or our agreements with foreign debt holders. Working with BRICS should be seen as complementing our overall economic strategy,” Perera said.



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INS TARANGINI makes port call in Trincomalee

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The Sail Training Ship of the Indian Navy, INS TARANGINI arrived at the Port of Trincomalee on a formal training visit on 27 Feb 26. The visiting ship was welcomed by the Sri Lanka Navy (SLN) in compliance with time-honoured naval traditions.

INS TARANGINI is a 54m long platform which is manned by a crew of 36 and is commanded by Commander Nitin Gajjar.

Meanwhile, Officer Under-trainees and Sea Cadets are expected to participate in sail training familiarization programmes aboard the ship and observe its operational functions during its stay in the island.

Furthermore, the ship’s crew is scheduled to take part in programmes organized by the Sri Lanka Navy to enhance camaraderie between the two navies, as well as visit several tourist attractions in the country.

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Renewed Lanka’s Easter Bombing probe puts NTJ’s South India radicalisation network back under lens

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New Delhi (IANS):The arrest of Sri Lanka’s former Intelligence chief, Retired Major-General Suresh Sallay is a turning point in the investigations into the 2019 Easter Sunday bombings that killed 279 people.

The move was a bold one taken by President Anura Kumara Dissanayake who won the presidency in 2024.

He had promised that all persons involved in the attack would be brought to justice.

Sallay was made State Intelligence Service (SIS) chief in 2019 after Gotabaya Rajapaksa became President.

The allegation against Sallay was that he had permitted the attack to take place with the intention of influencing that year’s presidential election, which was eventually won by Rajapaksa.

Sallay had become a prominent figure in Sri Lanka and was widely credited with dismantling the LTTE. His arrest has led to a political storm and many state that it could revive tensions relating to the LTTE.

Ali Sabry, former Sri Lankan Minister for Foreign Affairs said that the developments are deeply troubling.

An Indian official said that the developments in Sri Lanka are being monitored closely.

On the question whether the LTTE issue would come back into the picture following the arrest of Sallay, the officer said that attempts are being made, but it would be very tough.

There have been several cases that the National Investigation Agency (NIA) has been probing concerning the revival of the LTTE.

The ISI, too, has tried its hand in ensuring the revival of the LTTE, but has not been successful so far.

To prevent the revival of the LTTE, both India and Sri Lanka have been working very closely.

Another official explained that the current ties with Sri Lanka have gone from ideological to an investment-led partnership.

Prime Minister Narendra Modi and President Dissanayake share a pragmatic relationship and this has gone a long way in ensuring cooperation on all fields including security, the official explained.

While some in Sri Lanka do not subscribe to Dissanayake’s decision on Sallay, the fact is that the Easter Bombing case has to be probed from every possible angle.

An Intelligence Bureau official says that a major concern today are the activities of the National Thowheeth Jama’ath (NTJ) and Jamathei Millathu Ibrahim (JMI), the two outfits responsible for this attack.

The NTJ in particular has a vast presence in South India and has managed to radicalise a large number of youth in Tamil Nadu and Kerala.

The mastermind of the attack, Mohammad Zahran Hashim was a frequent visitor to Tamil Nadu. He was also responsible for the radicalisation of Jamesha Mubeen who carried out an unsuccessful attempt to bomb a temple in Coimbatore in 2022.

The Indian agencies have been actively pursuing the role played by Hashim. A probe by the NIA in the South India radicalisation case revealed that the entire plot was being run by Hashim from Sri Lanka.

At least 50 of the 100 radicalisation videos seized by the agency were discourses by Hashim, who had close links with the Islamic State.

Officials say that Sallay could provide details to investigators about the module that Hashim ran.

This would come in handy for the Indian agencies who are probing cases directly linked to the NTJ in South India.

Hashim, who was the ring leader for the suicide bombers during the Easter Bombing had spent a considerable amount of time in India.

The Indian agencies would want to learn if any of the locals that Hashim interacted with had any idea about the Easter Bombings.

While in India, Hashim had focussed his radicalisation programmes mainly at Mallapuram, Coimbatore, Nagapattinam, Kanyakumari, Ramnathpuram, Vellore, Trichy and Thirunelveli, the NIA probe found.

Pallay has for now denied any links to the Easter Bombings.

Indian officials say that they do not want to comment on Pallay and his alleged links.However, it is important that the bombings are probed thoroughly since the activities of the NTJ have a direct bearing on India, particularly the southern states, the official also added.

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Sajith warns: Don’t let trade union action stall cyclone relief

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Sajith Premadasa

Opposition and SJB Leader Sajith Premadasa on Friday stressed that relief efforts for communities affected by Cyclone Ditwah must not be derailed by internal disputes, as several trade unions announced plans to withdraw from disaster relief duties.

Taking to ‘X’, Premadasa called on the Government to prioritise coordination and ensure uninterrupted assistance to families still awaiting aid.

“The Government must work closely with officers on the ground to ensure coordination and uninterrupted support. When families are still waiting, how can we allow for this confusion?” he questioned, emphasising that relief measures should not be delayed under any circumstances.

His remarks follow the decision by several trade unions representing Government officers engaged in disaster relief operations to launch trade union action beginning from Friday (27 February).

The unions announced their withdrawal from relief-related duties, citing unresolved issues affecting officers involved in post-disaster operations.

According to the unions, more than 93 days have elapsed since the widespread destruction caused by Cyclone Ditwah. During this period, disaster relief officers and Grama Niladharis have worked continuously, day and night, acting as key coordinators between the Government and affected communities. However, they claim that authorities have failed to adequately address longstanding concerns relating to officers engaged in relief work.

Meanwhile, Secretary to the President Nandika Sanath Kumanayake yesterday underscored the need to expedite relief and recovery initiatives.

Chairing a progress review meeting of the National Council for Disaster Management, he called for strengthened coordination among State institutions responsible for disaster response, noting that effective inter-agency collaboration is critical to delivering timely assistance to affected communities.

Efforts to accelerate recovery and maintain continuity in relief operations are ongoing.

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