The U.S. delegation was led by John K. Veroneau, Deputy United States Trade Representative and Prof. G.L. Peiris Minister for Export Development and International Trade, led the Sri Lankan delegation.

U.S. and Sri Lankan officials reviewed progress in addressing bilateral trade and investment issues identified at the last TIFA Council meeting in November 2006, including common interests on which the two countries can work together to facilitate expanded trade and cooperation. They discussed the status of the ongoing WTO/Doha negotiations, Sri Lanka’s use of the U.S. Generalized System of Preferences (GSP) program, and U.S. trade capacity building assistance to Sri Lanka. In addition, the TIFA Council discussed issues affecting U.S. exports, such as Sri Lanka’s agricultural biotechnology policies, import tariffs, intellectual property rights protection, and transparency in government procurement.

“We are honored to play a role in supporting Sri Lanka’s economic development by enhancing opportunities for trade, particularly in the wake of the tsunami that devastated so much of Sri Lanka in late 2004,” Ambassador Veroneau said.

“The TIFA process provides an ideal platform for the two countries to engage in a constructive dialogue in further enhancing these relations for their mutual benefit. Enhancing market access for its exports and promoting close cooperation for capacity building in areas such as IPR, customs, anti-dumping and countervailing duties, information technology, etc., rank very high on Sri Lanka’s agenda in this context," said Minister Peiris.

On July 2, 2002, the United States and Sri Lanka signed a Trade and Investment Framework Agreement (TIFA) that provides a forum for both countries to examine ways to expand bilateral trade and investment. The TIFA Council facilitates an ongoing dialogue to identify and work to remove impediments to trade and investment flows between the two nations