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August 3, 2016    Reading Time: 2 minutes

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Prime Minister Wickremesinghe delivers keynote address at the inaugural session of the 12th World Islamic Economic Forum. Image credit -

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PM discusses Sri Lanka’s economic plans

Prime Minister, Ranil Wickremesinghe, has delivered the keynote address at the opening session of the 12th World Islamic Economic Forum. In his address, he outlined Sri Lanka’s economic development strategies.

Prime Minister Wickremesinghe also elaborated on Sri Lanka’s plans to improve bilateral trade through proposed agreements with India, China, and Singapore. He further mentioned the possibility of creating trade and investment links with Malaysia, Thailand, and Myanmar.

Sri Lanka establishes bilateral relations with Monaco

The Ministry of Foreign Affairs has announced the establishment of diplomatic relations between Sri Lanka and the Principality of Monaco.

The Permanent Representative of Sri Lanka to the UN, Dr. Rohan Perera, and his Monégasque counterpart, Isabelle Picco, ratified the Joint Communiqué at the Permanent Mission of Sri Lanka to the UN in New York, on 26 July.

Government approves modified Port City contract with China

The government will draft a revised agreement with the China Communications Construction Company, for the resumption of work on the Colombo Port City project.

The amended deal will include the withdrawal of Chinese compensation claims regarding construction. In exchange, the Sri Lankan government will grant 20 hectares of land to the China Harbour Engineering Corporation Port City, over an extendable 99-year lease period.


North Korean missile lands near Japanese waters

Japanese officials have stated that a North Korean ballistic missile landed inside Japan’s Exclusive Economic Zone, on 3 August.

The missile’s flight, which covered a distance of 1,000 km, is reported to be the further reaching for a North Korean test. Japanese Prime Minister, Shinzo Abe, has condemned the test launch and called it a ‘grave threat’ to Japan.

UN draft agreement on refugees and migrants in deadlock

The UN member states have developed a draft agreement on migrants and refugees ahead of the 71st UN General Assembly Session in New York.

The wording of the draft agreement was negotiated by several countries, including Russia, Eritrea, and the US. The specific commitments of each country to protect refugees and migrants was deferred till 2018.

Indonesia, Malaysia, and Philippines sign maritime agreement

The defence ministers of Indonesia, Malaysia, and the Philippines have signed a trilateral framework on Standard Operating Procedures on maritime cooperation. The framework would allow maritime forces from the three countries to enter each other’s waters to apprehend suspected criminals.

The ministers also discussed deploying security personnel to guard commercial vessels in the Sulu Sea, and methods to secure the release of hostages held by rebel groups in the Philippines.

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