Sri Lanka and Lithuania have agreed to strengthen bilateral cooperation in digital technology, financial technology (FinTech), cybersecurity and public sector digital transformation, with a focus on sharing expertise and adopting innovative technology solutions.<\/p>\n\n\n\n
The agreement was reached during discussions between Deputy Minister of Digital Economy<\/a> Eng. Eranga Weeraratne and a high-level Lithuanian delegation led by Deputy Minister of Foreign Affairs Vidmantas Verbicus at the Ministry of Digital Economy in Colombo on October 5.<\/p>\n\n\n\n Weeraratne highlighted Sri Lanka\u2019s ambition to build a US$5 billion digital economy under its Digital Economy Plan, identifying financial technology and innovative entrepreneurship as key drivers of this goal.<\/p>\n\n\n\n The Lithuanian delegation expressed support for Sri Lanka\u2019s digital transformation agenda and identified opportunities for the two countries to exchange expertise in technology, skills development and tax policy. Verbicus also invited the Sri Lankan Government<\/a> to participate in the Global Digital Summit scheduled to be held in Vilnius in 2027, focusing on artificial intelligence (AI), cybersecurity and government<\/a> technologies.<\/p>\n\n\n\n Discussions also focused on Lithuania\u2019s Open Government Data System, its EUR 16.4 billion innovative business ecosystem and the GovTech Lab model, which enables private sector technology providers to develop solutions to public sector challenges outside traditional public procurement processes.<\/p>\n\n\n\n Both sides agreed to explore technical assistance through the GovTech Lab model to support Sri Lanka\u2019s efforts to strengthen AI training facilities and data centre infrastructure and accelerate public sector digitalisation.<\/p>\n\n\n\n Sri Lanka\u2019s plans to introduce a Digital ID by 2027 were also discussed, including the potential use of open-source Digital Public Infrastructure. The delegation shared Lithuania\u2019s experience in data storage and governance during the development of its national electronic identification system.<\/p>\n\n\n\n The talks further covered the use of AI in education and the expansion of 5G communications infrastructure. Weeraratne said Sri Lanka was expanding 5G technology into rural areas, with 96% area coverage.<\/p>\n\n\n\n The two countries also agreed to initiate technical-level discussions with Lithuania\u2019s Communications Regulatory Authority on FinTech regulation, the licensing framework for Electronic Money Institutions and private 5G networks, while exploring further cooperation in cybersecurity and the digital economy.<\/p>\n\n\n\n The Lithuanian delegation included Ambassador to Sri Lanka Diana Mickevi\u010dien\u0117, Deputy Ambassador Lukas Kisielius and Kristina Bikauskait\u0117 of the Lithuanian Ministry of Foreign Affairs. Sri Lanka was represented by Janaka Geekianage, Director (Development and Policy) at the Ministry of Digital Economy, and Ministry Advisor Sumudu Ratnayake.<\/p>\n\n\n\n <\/p>\n\n\n\n Source: Daily News<\/a><\/a><\/a><\/a><\/a><\/a><\/a><\/a><\/a><\/a><\/p>\n","protected":false},"excerpt":{"rendered":" Sri Lanka and Lithuania have agreed to strengthen bilateral cooperation in digital technology, financial technology (FinTech), cybersecurity and public sector digital transformation, with a focus on sharing expertise and adopting innovative technology solutions. The agreement was reached during discussions between Deputy Minister of Digital Economy Eng. Eranga Weeraratne and a high-level Lithuanian delegation led by […]<\/p>\n","protected":false},"author":3,"featured_media":7995,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_uf_show_specific_survey":0,"_uf_disable_surveys":false,"footnotes":""},"categories":[7],"tags":[],"class_list":["post-7994","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-technology"],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t