Foreign Minister Péter Szijjártó on Wednesday met his Sri Lankan counerpart, Gamini Lakshman Peiris, and pledged to strengthen the ties between the two countries. Earlier on Wednesday, Szijjártó announced the largest Hungarian road construction project which is getting under way in South Asia.
Betonútépítő is building two large motorway overpasses near Sri Lanka’s capital as part of a 20 billion forint (EUR 56m) development, the ministry said in a statement. Szijjártó noted that the government supports Hungarian companies entering international markets. Hungary’s Eximbank is backing the investment which is expected to conclude by October 2023. Metal structures for the construction are being made in Nyíregyháza, while their delivery will take place in March.
At the joint press conference with Peiris, Szijjártó said cutting-edge technologies implemented by numerous Hungarian companies gave them a competitive edge internationally
, opening up investment opportunities in Sri Lanka and elsewhere.
Besides infrastructure development, Hungarian printing and water management companies are also present in the country, he said. A recently reconstructed water purifying plant has given 2 million people access to clean drinknig water, he said. While many development projects worldwide have fallen victim to the coronavirus pandemic, the Hungarian government is supporting Hungarian companies present on foreign markets to prevent further losses, he said.
The ministers have agreed to convene the second meeting of its economic committee as soon as possible and to speed up talks on
the elimination of double taxation to ensure “fair and honest cooperation”,
Starting this year, Hungary is also
offering 20 scholarships to Sri Lankan students wishing to study in Hungary,
he said. “We have always been fair, honest and reliable partners. We have not interfered in each other’s internal affairs, we’ve never criticised each other, and we’ve supported each other in international organisations; and we wish to carry on that way in the future,” Szijjártó said.
Peiris praised Hungarian economic development and said his country was on track to implement similar projects, which made robust cooperation and knowledge exchange very important. During the visit, Szijjarto also met Sri Lanka’s prime minister, Mahinda Rajapaksa, as well as the ministers of commerce, education and highways.
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Sri Lanka has 4 million Tamils,whose loyalty is to India,and who want to,and always wanted,to secede.
There was a 3 decades war,which drained the Sri Lanka economy – had Lanka set up the right manufacturing sector,in those decades – the nation would have been a superpower today.It is the land of Ravana,who flew Sita,the empress of Indiamin an AEROPLANE,and Rama took 12 years to make a bridge,to reach Lanka (with the bridge made by apes)
It was the RAW which funded and trained the LTTE,and has caused the ruin of Lanka.RAW also interfered in the Lanka elections and Presidential selection,on many times.It had INT,on the “almost successful assassination”
of Gen Fonseca (but did not tip off the Lankan INT)
HAD THE WAR NOT TAKEN PLACE – LANKA WOULD HAVE SAVED BILLION IN USD IN WAR MONEY AND ALSO EARNED BILLIONS IN USD IN INDUSTRIAL GROWTH
Companies go bust NOT due to the secured loans of 5-10 years – which are secured by English & Equitable Mortgages – but by the UNSECURED LOANS which are of short tenors & Floating ROI
Lanka is in the same hole
It was sunk by the ISB – Euro Bonds – which were taken after the 2009 war was over.It was rolled over & the party went on – just like LC roll overs.Then the downgrades of Lanka happened,& ROLLOVERS STOPPED – & the, COVID,& the CHEMICAL FERTILISER BAN
Lanka Debt to GDP is 120 %
Lanka Foreign debt to GDP is 50%
Lanka Tax to GDP is 8% =
Lanka has 1 Billion in FX & 13 Billion of ISB & 8 Billion of ISB in 12 months as due for payment
Lanka exports are doomed
Lanka has food shortages
Lanka depleted Billions of USD to defend the SLR – which led to loss of remittances
The Disasters of Gotabaya
Banning Chemical fertilisers – which led to dramatic declines in rubber and plantation yields,and rice and other food crops – which in turn,led to food shortages,crash in exports and expensive food imports and loss of FX – He says that it was done to SAVE FX ! (Who gave him that advice)
Slashing VAT by half and lowering Taxes on incomes
Making up loss of tax revenues by ISB of short tenor and high ROI
Using FX reserves to pay off ISB
Sugar and Coconut Oil Import duty scam to benefit his pets
USING PRECIOUS FX TO DEFEND THE SRI LANKAN RUPEE – WHICH SHOULD HAVE BEEN ALLOWED TO COLLAPSE A LONG TIME AGO
BUT THE REAL DISASTER WAS THE FERTILISER BAN WHICH CAUSED FOOD IMPORTS AND REDUCTION IN PLANTATION EXPORTS – IN A COVID TENOR – WHEN TOURISM WAS DOWN
AND THIS COULD NOT HAVE BEEN HIS IDEA !
The empty stadiums,empty roads,empty airports,empty towers – yield no income – but are financed by 20 year loans at 10 to 320 BP ROI.Even the 500 Million USD loan of ISB repaid by Lanka,WAS BOUGHT IN OFF MARKET TRADES,AT 50% OFF THE PAR VALUE (BEFORE THE REDEMPTION).
PRC CANNOT WAIVE THE LOANS OR SWAP INTO EQUITY AS ALL OTHER NATIONS WILL ALSO DEMAND THE SAME WAIVERS
LANKAN CRISIS IS A HYBRID ASSYMETRIC WAR AGAINST PRC – SILK ROUTE & BRI – TO DESTROY THE PRC INVESTMENTS – & FORCE CHINA TO DO DEBT WAIVERS OR EQUITY SWAPS. (SAME FOR ATTACKS ON CHINESE IN PAKISTAN).dindoohindoo
If there is NO TURNAROUND OPTION on the table – then NO ONE WILL LEND ANY MONEY – ONLY OPTION IS GRANTS – WHICH ALSO,DID NOT COME – FROM THE INDIANS !
Had Lankans stuck with the Chinese – this fiasco would NOT HAVE HAPPENED – AS PRC WOULD HAVE ENSURED THE LANKAN SUCCESS – AS IT WOULD HIT THE SILK ROAD INITIATIVE & THE PRC INVESTMENTS,IN AFRICA.PRC is a MAHAYANA state & Lanka is a Theravada state – the common link is Buddhism.India destroyed & exterminated Buddhists 1500 years ago.
THE INDIANS CONNED THE LANKANS,TO PART WAYS WITH PRC – & THE RESULT IS WHAT YOU SEE TODAY.HAD THE PLN DOCKED ITS NUKE SUBS & SHIPS AT LANKA – THEY WOULD HAVE ENSURED THE SUCCESS OF LANKA
Lankans need to read history ! Some gems from the Mahabharata
“Yama & all the Demons”, are in South India & Lanka – as per the Mahabharata, Book 13: Anusasana Parva: Section XCVII
He should make sacrificial offerings in due order; to Yama in the Southern region