Former President Ranil Wickremesinghe, speaking at the Eighth Indian Ocean Conference in Muscat, Oman, underscored the geopolitical shifts transforming the Indian Ocean into a critical hub for trade, security, and economic growth.
Citing a 2017 PricewaterhouseCoopers report, he noted that by 2050, economies like India, Indonesia, and Saudi Arabia are projected to be among the world’s largest. He also pointed to China’s Belt and Road Initiative (BRI) and Japan’s increasing economic engagement, highlighting the region’s strategic importance.
Wickremesinghe stressed that the Indian Ocean contains over half of the world’s proven oil and natural gas reserves, while emerging undersea resources like cobalt—jointly explored by Sri Lanka and India—offer new opportunities for sustainable development.
Reflecting on the region’s maritime heritage, he recalled Sri Lanka’s historical ties with Oman and the Indian Ocean civilisation, citing past military victories and cultural collaborations as testaments to the enduring regional bonds shaping today’s geopolitics.
