Krishna, who is in Sri Lanka on a four-day visit, inaugurated the Consulate General of India in Hambantota, a day after opening the new Indian consulate in Jaffna, which was once the bastion of the Liberation Tigers of the Tamil Eelam.
The minister said Sri Lankan President Mahinda Rajapaksa has plans for developing his home town of Hambantota -- which
has recently witnessed heightened Chinese activities, including in developing a strategic port costing US $ one billion -- as a major regional hub.
"I am confident that India will take advantage of the industrial and commercial potential around Hambantota," he said.
According to a senior official, India is the first country to set up a Consulate General in Hambantota. Krishna also asked Indian investors to explore the possibility of investing in southern Sri Lanka for the benefit of the two countries.
"Our (Indo-Sri Lanka) relations are multi-faceted and historical. The challenge has been to derive the full benefit of our proximity and exploit the full potential of our friendship and cooperation. With the shadow of the conflict lifting, I believe that the time has come when we can do that," he said.
India wanted Sri Lanka to thrive and be stable and progressive so that there can be peace and tranquility in both countries and in the region, he said while asserting that New Delhi treats all its neighbours with equal respect, irrespective of their size.
He said the visit of President Rajapaksa to India in June opened a significant chapter in bilateral relations.
"Prime Minister Manmohan Singh and Rajapaksa agreed to intensify our bilateral cooperation, revive connectivity and the age-old
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