Former Prime Minister of Australia Scott Morrison.
Credit: Reuters File Photo
Colombo: There is a need to preserve the sovereignty of the Indian Ocean and the need to resist coercion in the face of increasing influence from major powers, former Prime Minister of Australia Scott Morrison said on Monday.
Morrison made the remarks here while delivering a talk titled "Australia and the Indian Ocean" and underscored the strategic importance of the Indian Ocean and Australia's role in supporting smaller and developing countries in navigating geopolitical pressures.
Morrison emphasised the need for nations to resist coercion and maintain sovereignty, especially in the face of increasing influence from major powers.
He highlighted that the current global political landscape is influenced more by economic conditions rather than shifts in ideology.
He further discussed the increasing defence budgets worldwide, driven by the need for heightened global security, which also contributes to inflation.
This new economic environment, marked by expansionary fiscal policies and higher interest rates, presents challenges that governments must navigate, he said.
Morrison stressed the importance for governments and businesses to understand and factor in geopolitical risks when making economic decisions.
Morrison discussed the importance of regional cooperation, particularly within the framework of the Quad, and the need for greater humanitarian, economic, and strategic collaboration in the Indian Ocean.
On China's influence in the region, Morrison emphasised the need for transparent agreements that do not compromise national interests or security.
During the discussion moderated by Mohamed Nasheed, the former president of the Maldives, Morrison acknowledged the challenges faced by smaller nations and highlighted Australia's commitment to supporting these nations in maintaining their sovereignty and resisting external pressures.
The United States, the European Union, South Africa, New Zealand and Italy, alongside representatives from India, Canada, China and senior Sri Lankan government officials, participated in the event.