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Sayurusara 2020 December 45
the natural assets that we have. What better asset merely because of its great strategic salience but also
could one have hoped for than Trincomalee and its due to the enormous market potential. Due to this
harbour? One of the best natural harbours in the the Indian Ocean Region is increasingly becoming
world and certainly the best in the region, we have a global hotspot in both regional and international
hardly made use of it or realized its great potential. dialogue.
B. Research Method/design Therefore this is without a doubt an important
region for the world in the future years. It is through
This research was undertaken as a this region that half of the world’s container traffic
descriptive research and it would have policy passes and whose ports handle approximately thirty
relevance and theoretical significance for the percent of world trade thus becoming the “economic
strategic policy makers of the island nation. This highway of the world” 66% of oil shipments so vital
qualitative research was done through extensive for India, Japan and China and 33% of the world’s
literature survey using secondary sources of data bulk cargo” passes through these waters. Continental
such as review articles, journal articles, paper Shelves cover approximately forty two percent of the
articles and the web. Data interpretation would be Indian Ocean which is said to be rich in minerals
carried out through observation of patterns, trends such as Tin, Gold, Uranium, Cobalt, Nickel, Aluminum
and themes in the literature survey. and Cadmium. Its global significance can be further
III. RESULTS witnessed as forty out of fifty four types of raw
materials used by U.S. industries are sourced from
A. Advantages of the findings the Indian Ocean and it possesses some of the world’s
largest fishing grounds, providing approximately
Sri Lanka needs to gear its economy in fifteen percent of the world’s total fish catch.
such a way that it is not prone to major shocks Furthermore, fifty five percent of the Earth’s known
that constantly occur in the global economy. The oil reserves are present in the Indian Ocean. Whilst
Trincomalee development project, if realized forty percent of the world’s natural gas reserves are in
properly could establish some stability to our the Indian Ocean littoral states. These facts related to
economy while giving it a tremendous boost. the economy and many more govern the importance
this region retains on global politics.
Sri Lankans have traditionally not been
able to think big, probably due to our country being C. Sri Lanka’s Maritime Potential
small. It was intended to change our thinking and
make the most of the possibilities that open up with Unlike the other states of this region, Sri
the development of the large Indian market. There Lanka is located strategically as an island in the
are many more projects that could be implemented centre of the IOR. Sri Lanka’s southernmost point is
in Trincomalee. It could easily increase our GDP by “close to the world’s main shipping lanes where more
about US$10-15 billion. Therefore maybe it is time than thirty thousand vessels per year transport fuel
to change the way we look at development. and raw material from the Middle East to East Asia”.
And due to the convenient positioning, Sri Lanka has
IV. DISCUSSION not been immune from these strategic calculations
and speculations. Therefore, maritime security and
A. Background safety lie at the heart of Sri Lankan interests in the
region and her national security policies.
Being located strategically in the Indian
Ocean, Sri Lanka strongly believes the significance Being an island in the Indian Ocean, Sri Lanka
of secure seas for global prosperity and connectivity. is endowed enormously with ocean resources. Indian
The significant economic transformation that Asia Ocean is making notable contribution to various
has experienced and the potential of the region economic sectors of the country, thus to the overall
becoming the most focused ocean space in the world national output. Fisheries, trade, agriculture and
brings along a wide range of opportunities as well as tourism have been key sectors, which are reliant on
multitude of challenges. the ocean resources in Sri Lanka. However, these
ocean resources have not been optimally utilized and
B. Indian Ocean as the focused maritime space exploited. The deep sea fishery resources have not
been tapped because of dearth of marine and fishing
The Indian Ocean covers twenty percent of infrastructure available to do so. Trincomalee being
the earth and is ranked as the third largest water a deep natural harbour makes it easily accessible
coverage of the world. However, over the last
decade, the Indian Ocean Region (IOR) has emerged
as a focus of tremendous international concern, not
the natural assets that we have. What better asset merely because of its great strategic salience but also
could one have hoped for than Trincomalee and its due to the enormous market potential. Due to this
harbour? One of the best natural harbours in the the Indian Ocean Region is increasingly becoming
world and certainly the best in the region, we have a global hotspot in both regional and international
hardly made use of it or realized its great potential. dialogue.
B. Research Method/design Therefore this is without a doubt an important
region for the world in the future years. It is through
This research was undertaken as a this region that half of the world’s container traffic
descriptive research and it would have policy passes and whose ports handle approximately thirty
relevance and theoretical significance for the percent of world trade thus becoming the “economic
strategic policy makers of the island nation. This highway of the world” 66% of oil shipments so vital
qualitative research was done through extensive for India, Japan and China and 33% of the world’s
literature survey using secondary sources of data bulk cargo” passes through these waters. Continental
such as review articles, journal articles, paper Shelves cover approximately forty two percent of the
articles and the web. Data interpretation would be Indian Ocean which is said to be rich in minerals
carried out through observation of patterns, trends such as Tin, Gold, Uranium, Cobalt, Nickel, Aluminum
and themes in the literature survey. and Cadmium. Its global significance can be further
III. RESULTS witnessed as forty out of fifty four types of raw
materials used by U.S. industries are sourced from
A. Advantages of the findings the Indian Ocean and it possesses some of the world’s
largest fishing grounds, providing approximately
Sri Lanka needs to gear its economy in fifteen percent of the world’s total fish catch.
such a way that it is not prone to major shocks Furthermore, fifty five percent of the Earth’s known
that constantly occur in the global economy. The oil reserves are present in the Indian Ocean. Whilst
Trincomalee development project, if realized forty percent of the world’s natural gas reserves are in
properly could establish some stability to our the Indian Ocean littoral states. These facts related to
economy while giving it a tremendous boost. the economy and many more govern the importance
this region retains on global politics.
Sri Lankans have traditionally not been
able to think big, probably due to our country being C. Sri Lanka’s Maritime Potential
small. It was intended to change our thinking and
make the most of the possibilities that open up with Unlike the other states of this region, Sri
the development of the large Indian market. There Lanka is located strategically as an island in the
are many more projects that could be implemented centre of the IOR. Sri Lanka’s southernmost point is
in Trincomalee. It could easily increase our GDP by “close to the world’s main shipping lanes where more
about US$10-15 billion. Therefore maybe it is time than thirty thousand vessels per year transport fuel
to change the way we look at development. and raw material from the Middle East to East Asia”.
And due to the convenient positioning, Sri Lanka has
IV. DISCUSSION not been immune from these strategic calculations
and speculations. Therefore, maritime security and
A. Background safety lie at the heart of Sri Lankan interests in the
region and her national security policies.
Being located strategically in the Indian
Ocean, Sri Lanka strongly believes the significance Being an island in the Indian Ocean, Sri Lanka
of secure seas for global prosperity and connectivity. is endowed enormously with ocean resources. Indian
The significant economic transformation that Asia Ocean is making notable contribution to various
has experienced and the potential of the region economic sectors of the country, thus to the overall
becoming the most focused ocean space in the world national output. Fisheries, trade, agriculture and
brings along a wide range of opportunities as well as tourism have been key sectors, which are reliant on
multitude of challenges. the ocean resources in Sri Lanka. However, these
ocean resources have not been optimally utilized and
B. Indian Ocean as the focused maritime space exploited. The deep sea fishery resources have not
been tapped because of dearth of marine and fishing
The Indian Ocean covers twenty percent of infrastructure available to do so. Trincomalee being
the earth and is ranked as the third largest water a deep natural harbour makes it easily accessible
coverage of the world. However, over the last
decade, the Indian Ocean Region (IOR) has emerged
as a focus of tremendous international concern, not
