Sri Lanka Urges Modern Multilateral Framework for Indian Ocean Stability 🌊

Sri Lanka has called for a shift from outdated Cold War-era resolutions toward a contemporary, legally binding security architecture to protect freedom of navigation, which serves as a primary economic lifeline for the island. • Strategic Importance: The Indian Ocean carries 80% of global maritime oil trade, 33% of bulk cargo, and 50% of container traffic. Its floor hosts undersea cables carrying 99% of international data. • Economic Impact: For Sri Lanka, freedom of navigation is an "economic justice issue." Disruptions lead to higher freight rates, supply chain delays, and inflationary pressure on essential goods and energy. • Port & Logistics Hub: Colombo Port handles over 7 million TEUs annually. The nation’s stability depends on remaining "open to all and dominated by none" while avoiding Great Power competition. • Zone of Peace Update: The 1971 "Zone of Peace" declaration is cited as aspirational but legally non-binding and outdated, as it didn't account for regional nuclear powers like India and Pakistan. • Key Recommendations: • Unambiguous commitment to UNCLOS (Law of the Sea). • Inclusion of smaller littoral states in high-level maritime security talks. • International investment in port-centered infrastructure and trade-cost reduction projects.