US Ambassador to Sri Lanka assures support to Sri Lanka’s rising tide and competitiveness
US Ambassador to Sri Lanka Alaina B. Teplitz has reportedly assured to extend support to Sri Lanka’s rising tide, particularly in the areas of partnerships, regulatory consistency, political stability, and rule of law, in a bid to boost Sri Lanka’s competitiveness.
The envoy has made this observation at the ICSE International Women’s Conference 2019 recently.
Teplitz has said she was looking forward to working with Sri Lankan President Gotabaya Rajapaksa for a strong and sovereign Sri Lanka, based on extensive partnerships that can foster economic growth.
“Shortly after the Presidential Election, I tweeted a congratulatory message to the people of Sri Lanka and said I looked forward to working with President Rajapaksa. The President replied to me, stressing his desire for warm and mutually beneficial relations, relations with a focus on bilateral economic and trade ties, including increased inward investments,” she has noted.
The US envoy has also noted that the United States is a top export market for Sri Lanka, and American companies remain among the largest foreign investors in this country.
“American business is brining jobs, skills, new technologies, and the highest ethical and workplace standards to the business environment. Sustainable and equitable economic growth is essential to secure Sri Lanka’s future,” Teplitz has said, adding that investments, reciprocal trade, and workplace improvements that generate real opportunities will yield higher growth.
The Ambassador has further noted that shared prosperity is essential for Sri Lanka and the US.
“Shared prosperity is the rising tide that lifts all boats. I know the United States can support and be a part of Sri Lanka’s rising tide,” she has added.
OSL take:
The US and Sri Lanka enjoy strong bilateral and trade ties. Sri Lanka also enjoys the US GSP trade concessions that has helped the growth of Sri Lanka’s export market. The US has currently offered Sri Lanka a development grant of over US$ 400 million under the Millennium Challenge Corporation (MCC) Compact. All these indicate the strong ties between the two countries. US businesses/investors could confidently explore business opportunities in Sri Lanka and vice versa. 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.
| Article Code : | VBS/AT/06122019/Z_2 |