[1] Since the end of the Cold War in Asia, the country has pursued better relations with all major powers and seeks to strengthen its diplomatic, economic and military ties with China, India, Pakistan, Russia, the United States, Japan, South Korea and the European Union.
Sri Lanka has also forged close ties with the member states of the Association of Southeast Asian Nations (ASEAN), African Union and Arab League.
It also is a member of the Commonwealth of Nations, South Asian Association for Regional Cooperation (SAARC), World Bank, International Monetary Fund (IMF), Asian Development Bank (ADB), Shanghai Cooperation Organisation (as dialogue partner) and Colombo Plan.
Sri Lanka's foreign policy is a forward-looking engagement with the rest of the world, based on a rigorous, realistic and contemporary assessment of the bilateral, regional and global geo-political and economic milieu.
Sri Lanka's first king to be mentioned in the ancient Pali chronicles is said to have ancestors from the Vanga Kingdom, which occupied an area that is now known as Bangladesh.
The Buddhist minority of Bangladesh gifted Sri Lanka with a few strands of hair said to have belonged to Buddha as a sign of goodwill.
Sri Lanka's current investments have been in Bangladesh's garment and banking sector and expect to diversify into different areas.
Bangladesh also hosts a number of Sri Lankan medical students and cricket as a form of friendly communications between their people.
There has been discussion to increase bilateral relations, cooperation between the two navies and sending Sri Lankan Naval personnel to study in Bangladesh.
Both nations occupy a strategic position in South Asia and have sought to build a common security umbrella in the Indian Ocean.
After Mahmoud Ahmadinejad became President of Iran, Sri Lanka was the first country he visited on his inaugural Asian tour.
[53] Sri Lanka has a close relationship with Israel, and its military is a major user of Israeli weapons systems that include the IAI Kfir Fighter Jet, the Super Dvora Mk III class Patrol Vessel, and the Gabriel missile.
In May 2011, the Israeli Minister of Agriculture visited Sri Lanka with an agro-business delegation to promote cooperation between the two countries.
[54] During the Second World War, an air raid was carried out by Japan to bomb the city of Colombo in Sri Lanka.
[56] Sri Lankan President JR Jayawardene played a major role in re-admitting Japan to the world community at the San Francisco Conference Malaysia has a high commission in Colombo,[57] and Sri Lanka has a high commission in Kuala Lumpur.
The Maldives first established a mission in Sri Lanka in July 1965, and today has a High Commission in Colombo.
[78] The President of Sri Lanka, Chandrika Bandaranaike Kumaratunga characterized relations between the two countries in 2003 as "close and friendly".
[81][82] In December 2009, Valerica Epure presented her credentials to President Mahinda Rajapaksa to become Ambassador-Designate of Romania to Sri Lanka.