Speaking at the Center for a New American Security in Washington, Biswal said “Sri Lanka, which is rebalancing its own foreign and economic policy as it emerges from its self-imposed isolation, will benefit from its strategic location as a maritime gateway to some of the largest markets in Asia.”
Biswal also added, “The Millennium Challenge Corporation, which had previously focused mostly on Africa and Latin America, is now looking to invest more in Asia, having recently announced a compact with Nepal and a threshold program with Sri Lanka. This could not only bring in much-needed investment and expertise, but also trigger the “MCC Effect,” where international businesses are drawn to countries that have proven themselves MCC eligible.
Sri Lanka deserves special attention as it continues to consolidate democratic gains in the past two elections and put the country on a path to reconciliation. The United States was among the first to welcome these moves and offer our support and assistance. Both Secretary Kerry and Ambassador Power visited last year – and I myself visited four times in 2015 – and this year we launched our first-ever Partnership Dialogue.
The positive momentum of Sri Lanka stands in sharp contrast to the largely negative trajectory of Maldives, which has seen a steady weakening of its fragile democracy and an erosion of the rule of law.”
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