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Saturday, January 21, 2012 - 12.39 GMT

US wants to enhance trade ties with Sri Lanka


Sri Lanka's impressive economic growth is motivating the U.S. Department of Commerce to urge their companies to have a second look at the island nation, a top official said Friday.

Holly Vineyard, U.S. deputy assistant secretary of commerce for Africa, the Middle East and South Asia, told the media during a visit that the progress of post-war Sri Lanka was "exciting" and that they were interested in enhancing and diversifying trade between the two nations.

"We are very keen to engage more with Sri Lanka as we see great opportunities for increasing trade through more partnerships. The U.S. is taking a more regional approach to increasing ties and we hope to identify specific opportunities during the mega Expo that Sri Lanka is organizing in March 2012," she said.

On the sidelines of the Expo the latest round of Trade and Investment Framework Agreement (TIFA) talks between the United States and Sri Lanka will be held to formulate policies.

Vineyard said she would encourage U.S. trade delegations to India to have a closer view of prospects in Sri Lanka, starting with a group of 14 companies that are due in February to discuss opportunities in port cities.

She also urged the Sri Lankan government to attend the hearing and lobby for the U.S. Generalized System of Preferences at a hearing on Jan. 24 to promote trade between the two countries.




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Last modified: January 21, 2012.

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