US ready to expand trade and investment in Sri Lanka
The Morning: The US Secretary of State Marco Rubio on 4 February congratulated the people of Sri Lanka on behalf of the United States of America (US), as the island nation celebrates its 77th Independence Day.
Issuing a statement, Marco Rubio highlighted that in the 77 years since Sri Lanka claimed its independence, both countries have developed a strong and mutually beneficial partnership built on the cornerstone of people-to-people ties and shared democratic values.
“In the year ahead, we look forward to increasing trade and investment between our countries and strengthening our security cooperation to advance stability and prosperity throughout the Indo-Pacific region,” Rubio noted.
Meanwhile, posting on ‘X’ (formerly Twitter), US Ambassador to Sri Lanka Julie Chung said: “We join Secretary Rubio in congratulating the people of Sri Lanka on 77 years of Independence and reaffirm the United States’ commitment to addressing our shared challenges and to promote a free, open, and secure Indo Pacific region.”
OSL take:
The statement by the US of the interest in expanding trade and investments in Sri Lanka is a further indication of the growing business confidence in the country. Sri Lanka has shown great resilience and strength in facing internal and external challenges through the years, especially during the economic crisis in 2022. The country’s economy is now on the expansion path with all key economic sectors presenting a host of business/investment opportunities for foreign businesses/investors. Sri Lanka’s strategic positioning in the Indian Ocean, the strong trade ties and the path to becoming a regional hub have all increased the country’s attraction as the ideal destination for foreign businesses/investors. Sri Lanka being prominently figured in China’s Belt and Road Initiative (BRI) has added to Sri Lanka’s attraction as an emerging business destination. Given all these developments including the interest shown in Sri Lanka by economic giants like the US and China, foreign businesses/investors from the US, China and other countries could confidently explore the increasing business potential in the country. Sri Lankan businesses could also use this opportunity to form partnerships or joint ventures with foreign businesses/investors that could help the expansion of operations locally and internationally.
| Article Code : | VBS/AT/20250206/Z_3 |