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Friday, October 16, 2009 - 5.06 GMT |
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US - SL trade to increase |
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There
are
enormous
possibilities
for Sri
Lanka
that
were not
possible
a year
ago and
US- Sri
Lanka
trade,
worth
about $
2
billion
a year,
could
increase
substantially
said
Michael
Delany,
Assistant
U.S.
Trade
Representative
and Head
of the
U.S.
trade
team, in
concluding
the
seventh
annual
meeting
yesterday
(15) to
discuss
the
Trade
and
Investment
Framework
Agreement
(TIFA).
He
further
stated
that US
wants to
promote
investment
in Sri
Lanka as
a means
of
aiding
post-conflict
reconciliation
since
the
country's
situation
has
turned
better.
The TIFA
talks
focused
on a
number
of trade
issues
which
included
intellectual
property
rights,
food
labelling,
garment
exports
and
patent
and
payment
issues,
all of
which
are
designed
to
increase
commerce
between
the U.S.
and Sri
Lanka.
The Sri
Lankan
delegation
cited
the
success
of the
talks,
noting
that the
backing
of the
United
States
gives an
important
boost to
efforts
to
rebuild
the
conflict-damaged
Northern
and
Eastern
provinces.
Increased
trade
would
prove
vital to
providing
steady
incomes
to those
displaced
said
Prof.
G.L.
Peiris,
Minister
of
Export
Development
and
International
Trade.
The US
delegation
was
joined
by a
group of
US and
Indian
business
leaders
to visit
the
coastal
city of
Trincomalee
to
explore
investment
opportunities.
Representatives
of more
than 40
American
companies
and 30
companies
from
India
and
other
parts of
Asia
were in
Sri
Lanka
for a
“Public-Private
Partnership”
to
explore
business
opportunities.
The
day-long
visit to
Trincomalee
was
intended
to
encourage
large
and
medium-sized
businesses
to
operate
in the
Eastern
Province.
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