AmCham Sri Lanka express excitement over US companies expanding investments in the island
The American Chamber of Commerce (AmCham) in Sri Lanka has congratulated Gotabaya Rajapaksa on being elected as the seventh Executive President of Sri Lanka and has expressed hope that the newly elected President will promote constructive trade and investment policies to enable US and Sri Lankan businesses to continue creating prosperity.
“It is our sincere hope that this new chapter in Sri Lankan history will continue to grow the already prosperous relationship between the United States and Sri Lanka. The AmCham looks forward to working with the new administration in order to further develop the longstanding and mutually-beneficial partnership between the Sri Lankan Government and the Chamber and we further express our hope and desire that the newly elected President will promote constructive trade and investment policies, so that US and Sri Lankan businesses can continue to create prosperity at home and in each other’s respective markets,” AmCham has observed issuing a statement.
The statement has further noted, “The United States is Sri Lanka’s largest export partner, but AmCham is in particular excited about exploring opportunities in relation to US companies expanding investment in Sri Lanka.
“In recent years the United States has made a concerted effort to increase the investment profile of its companies in the Indo-Pacific region, and in that sense, opportunities abound for Sri Lanka in terms of becoming a key trading partner in the region. As such we look forward to President Rajapaksa continuing with Sri Lanka’s dedication to a transparent and inclusive policy environment, while at the same time ensuring peace and sustainable growth of
its economy.”
AmCham in Sri Lanka has added that it remained a committed advocate of free trade and that the Chamber looked forward to continuing to work with the Sri Lankan government and its representatives to promote U.S.-Sri Lanka trade and investment and U.S. commercial interests in Sri Lanka based on the strong foundation of the American-Sri Lankan partnership.
OSL take:
Sri Lanka-US bilateral and trade ties are expected to see a boost under the tenure of President Gotabaya Rajapaksa. There are currently many US businesses operating in Sri Lanka and as stated by AmCham the economic policies of the new government is expected to further boost ties between the two countries. Sri Lanka’s geographical positioning in the Indian Ocean, the ease of doing business environment in the country and the many trade agreements as well as trade concessions enjoyed by the country have made it an attractive business destination in the South Asian region. All these could be exploited by US businesses by setting up base in Sri Lanka to do business with other countries in the region.
| Article Code : | VBS/AT/20191126/Z_2 |