As a hub of the Indian Ocean, the development of Sri Lanka and openness of its ports are of great importance. Colombo Port is the leading Port in the region. This joint project reflects the longstanding good will and cooperation among the three countries. Japan has provided cooperation for the development of the Jaya Container Terminal since the 1980’s. Around 70% of Colombo Port’s transshipment business is India-related. Sri Lanka, Japan and India will work together for further development of the Colombo Port and contribute to further regional prosperity and stability of global trading network.

The three governments will work out details based on the MoC at joint working group meetings, and advance their cooperation towards early commencement of work and operation of the ECT.On 21 May 2019, the Government of Japan announced the conferment of “The Order of the Rising Sun, Silver Rays” upon Mr. Upali Stanley Jayasekera, in recognition of his invaluable contribution to the promotion of friendship and mutual understanding between Sri Lanka and Japan.