US to enhance the bilateral economic relationship with Sri Lanka

A United States trade delegation consisting of business leaders, entrepreneurs, and investors are in Sri Lanka this week to develop plans to enhance the bilateral economic relationship between the two countries.
The trade delegation from Washington, led by Assistant US Trade Representative (USTR) Michael Delaney is in Sri Lanka for the tenth annual round of official bilateral Trade and Investment Framework Agreement (TIFA) talks. Valerie Fowler, Chargé d'Affaires of the U.S. Embassy in Colombo, making the opening remarks at the TIFA talks today expressed confidence that the talks will make additional progress and enable the U.S. to increase its trade and investment in Sri Lanka, and help expanding country's economy and increase Sri Lankan employment. Ms. Fowler said the talks are a forum where the two governments can solve problems, to give all businesses a level playing field and enable the private sector to compete fairly and transparently. "The United States is the largest single export market for Sri Lankan goods, and our bilateral trade is growing," she said. The TIFA talks are designed to give the business people of the two countries an opportunity to do their best and compete with anyone in the world, the U.S. Embassy official said. The bilateral relationship between the U.S. and Sri Lanka is deep, enduring and multi-faceted, she said, recalling that U.S. tabled a resolution on Sri Lanka at the UN last week to encourage the Sri Lankan government to continue on the path toward reconciliation following end of the three-decade long war. She noted that the U.S. is assisting the Sri Lankan government in many ways, with food aid, humanitarian assistance, demining assistance, disaster relief including tsunami reconstruction projects, support for public-private alliances, and much more. Ms. Fowler recalled that just a few days ago the United States eased restrictions on defense sales to Sri Lanka to allow exports of equipment for aerial and maritime surveillance, to include the selling of advanced technology to your Navy and Coast Guard. The Chargé d'Affaires reiterated her government's assistance to Sri Lanka and expectation to continue the good working relationship with the Sri Lankan Government, Sri Lankan businesses, and the Sri Lankan people. "And now, as Sri Lanka recovers from decades of strife that affected each Sri Lankan citizen, we continue to assist the government and the Sri Lankan people to bind up the wounds of a terrible war and to seek a better life for the people of this great country," Ms. Fowler said. "Part of the answer with reconciliation is found through economic development. More investment, greater access to markets, more innovation and new technologies will benefit all areas of Sri Lanka, and American companies stand ready to compete for these opportunities to transform the economic landscape," the U.S. Embassy official said. Full text of the speech