FM requests for concessionary arrangements to source oil from UAE

Rebecca Pavey | Published: 3:59 PM Sep 24 2021
Local FM requests for concessionary arrangements to source oil from UAE

During his recent meeting with the Minister of Industry and Advanced Technology of the United Arab Emirates Dr. Sultan Al Jaber, Foreign Minister Prof. G.L. Peiris explained the ongoing crisis concerning Sri Lanka's external budget, focusing particularly on the country’s requirement of oil.

Attributing the crisis to the COVID-19 pandemic, Peiris requested concessionary arrangements from the UAE, to which Minister Al Jaber, responding positively, said that the UAE would be happy to assist.

The establishment of a strategic framework to take the process forward was later proposed, which both sides agreed to follow up rapidly.

Sri Lanka and the UAE have fruitful and constructive collaboration in the international fora including at the International Maritime Organization, the UN Human Rights Council and the UN Security Council. 

Both Ministers agreed that it is not acceptable to impose on countries various conditions and agendas and that a one-size-fits-all policy does not deliver results.

Minister Al Jaber stated that the one-size-fits-all policy is also not applicable to climate change, and it is necessary to define mechanisms that would allow countries to adapt and mitigate climate change without affecting their economies. 

He stated that the UAE had put forward their nomination to host the United Nations Framework Convention on Climate Change (COP 28) in 2023 and looked forward to the support of Sri Lanka.




Rebecca Pavey | Published: 3:59 PM Sep 24 2021

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