External Affairs Minister S.M. Krishna says, India hopes for launching of a `structured dialogue mechanism’ soon to find a political solution to the ethnic divide in Sri Lanka.He was addressing a news conference in Colombo along with his Sri Lankan counterpart Prof. G.L. Peiris, after they presided over the seventh meeting of Indo-Sri Lanka Joint Commission meeting. Krishna said that cessation of the armed conflict in the island nation in May last year provided a historic opportunity to address all outstanding issues and move forward on political settlement in the spirit of understanding and mutual accommodation.Prof. Peiris, answering a question on the perceived delay in movement forward on the political solution and redressal of grievances of minorities in Sri Lanka, said the immediate priority of the Government is addressing of humanitarian issues in the post-conflict era. He maintained that the long term goals have not been lost sight of.Sri Lankan Foreign Minister said that suggestions have been invited from all the stakeholders to the ethnic problem in the country and the Government is engaged in dialogue with various political groups.Both the Ministers agreed that the just concluded Joint Commission covered the whole range of issues of interest to the two countries and take the bilateral relations to a new level. The Commission reviewed implementation of bilateral understandings reached during the June visit of the Sri Lankan President Mahinda Rajapaksa to India.Krishna said that scheduled opening of the Indian consulates in Hambantota and Jaffna is a significant milestone in promotion of people to people to contacts. The opening of Hambantota consulate has been postponed to Sunday due to inclement weather.The External Affairs Minister said that commitment by India to build 50,000 houses for the war displaced Tamil civilians in the Northern and Eastern provinces will be an enduring symbol of India-Lanka partnership. Krishna said India is engaged in helping the Sri Lanka Government in providing relief and, re-settlement and restoration of livelihoods of the Internally Displaced Persons. Answering a question the Minister said that the Tamil Nadu Chief Minister M. Karunanidhi has conveyed some concerns on the resettlement of the war displaced Tamil civilians and the Sri Lanka Government is sensitive to those concerns. The Joint Commission meeting witnessed the exchange of Instruments of Ratification of the Agreement on Transfer of Sentenced Prisoners and of the Mutual Legal Assistance Treaty, thus bringing into effect these two important agreements.The minutes of meeting signed on the Commission meeting said that both sides welcomed the ongoing and close cooperation between the two countries in the field of defence and security, the resumption of high level contacts between the defence forces of the two sides and the planned interactions on an annual defence dialogueEarlier in the day Krishna interacted with the Sri Lankan President Mahinda Rajapksa over breakfast. A statement by the President’s Secretariat described the meeting as cordial and said that both sides expressed satisfaction on Sri Lanka's post-conflict reconstruction and economic progress. A Credit Agreement for 416 million Dollars for the construction of the Northern Railway line was signed between India and Sri Lanka in the presence of Rajapaksa and Krishna.In addition, letters were exchanged between Treasury Secretary P B Jayasundara and the Managing Director of Exim Bank of India, Nadeem Panjetan for the first phase of the 50,000 housing project for the IDPs funded by India, after the meeting between the President and the Indian Minister. The houses are for the benefit of the war displaced Tamil civilians.It was also decided that Kapilavastu relics will be brought from India to Sri Lanka next May for the 2600 Sambudda Jayanthi celebrations.