The Hon. Deputy Minister of Foreign Affairs and Foreign Employment, Arun Hemachandra

¶ 01 Hon. Deputy Chairperson of Committees, this is an important moment. We need a two-thirds majority to approve this agreement, and the debate must be focused so that future generations can refer to Hansard to understand our reasoning and improve frameworks over time. I urge the Opposition to keep to the topic; other important matters can be taken under appropriate items or with separate debates.

¶ 02 Regarding the UAE engagement: when we invited investors, they repeatedly asked whether the problems that befell past companies would recur—citing Etisalat and Emirates as examples. Political campaigns at the time, driven by narrow interests and infused with anti-Muslim rhetoric, undermined major, well-run companies.

¶ 03 On SriLankan Airlines: personally, I believe if we had retained full national control that might have been preferable, but historically management was given to Emirates in the late 1990s. Then in 2007, for parochial reasons, the CEO Peter Hill’s visa was cancelled and the arrangement undone; we resorted to patriotic rhetoric after the fact, but the public bore the economic cost. We saw people queue for gas, suffer power cuts, and lack medicines. That political culture bears responsibility.

¶ 04 We came with a clear mandate and promised transparency. We seek to attract UAE investments. Investor confidence is key—investors must believe Sri Lanka is a reliable place to invest. This agreement defines “investment” properly: mere incorporation yields no benefits; once a business is genuinely established, benefits follow. For dispute resolution, we propose consultation first, a joint commission, then, if needed, UNCITRAL procedures, and only thereafter ICSID—a reciprocal framework benefiting both sides.

¶ 05 Importantly, reciprocity means Sri Lankan businesses investing in the UAE will receive equivalent treatment extended to Emirati investors in Sri Lanka. We aim to build a democratic, pro-people economy transparently.

¶ 06 On drugs and poverty: global studies show a linkage—greater poverty correlates with higher drug use and trafficking participation, forming a shadow economy that harms society. We will not pursue development through commissions and cheap debt that burden people. We are systematically steering out of bankruptcy with transparency and sound political culture. Through agreements like this, we will move forward. We invite all to unite and pass this with the broadest possible support, not just the government’s two-thirds. Thank you.