US says Sri Lanka with its geographic location and economic potential is of great importance in Indo-Pacific policy
The United States has reportedly said last week that it attaches great importance to Sri Lanka in the Indo- Pacific policy due to the island nation’s strategic geographic location and economic potential.
“We view Sri Lanka as a critical partner in the region and located at the nexus of the Indo-Pacific, Sri Lanka has the opportunity to shape the region’s future,” US’s Bureau of South and Central Asian Affairs Acting Principal Deputy Assistant Secretary Thomas L. Vajda has said at a panel discussion organised by the Pathfinder Foundation titled ‘US Indo-Pacific Vision & Sri Lanka’s Role’, where the components of the US economic and commercial strategy for the Indo-Pacific region were discussed.
Vajda has said the US is working with key partners like Sri Lanka to protect and enhance a rules-based order in the Indo-Pacific that respects such principles as the peaceful resolution of disputes, freedom of navigation, open and transparent investment environments, and strong and responsible governing institutions.
“These principles have created conditions that have allowed for so much growth and prosperity here and elsewhere in the region over the past decades, and in our view they will be critical to the region’s future as well,” he has been quoted as saying at the discussion.
The discussion was chaired by Pathfinder Foundation Chairman Bernard Goonetilleke and US Ambassador Alaina B. Teplitz was also present.
“Sri Lanka is a sovereign nation and our respect for its sovereignty and that of other nations’ guides our actions in the Indo-Pacific. We fully expect Sri Lanka to build and maintain mutually beneficial partnerships with all countries throughout the region and indeed around the world, just as the United States does. However, all such relationships should be transparent and truly beneficial to all parties involved over the long term. Transactions that are based on naked commercial self-interest and hidden agendas that mortgage the future also undermine the long-term stability and vitality of the region,” Vajda has noted.
He has observed the US’s goal, both in terms of a bilateral relationship and engagement under an Indo-Pacific framework, is a Sri Lanka that is empowered through its partnership with the United States and for which broader growth means equal opportunities and gains for all.
Vajda has noted that US companies have invested more than US$ 300 million in Sri Lanka, generating hundreds of high-quality jobs.
“We want to see Sri Lanka harness that potential and create an economy that strengthens and grows through good governance, responsible and inclusive economic policy and practices, accountability, and importantly, the rule of law,” he has stated, adding that the United States is prepared to work with Sri Lanka to foster sustainable and inclusive economic growth.
OSL take:
Sri Lanka already enjoys the GSP trade concession from the US, which has greatly helped the Sri Lankan exports sector. In this backdrop, the words of the US official Thomas L Vajda is encouraging to foreign businesses/investors to understand the growth potential in Sri Lanka as well as the country’s importance to the US Ind0-Pacific policy. US businesses could therefore with confidence look at investing in Sri Lanka and look at forming joint ventures with local companies. Given Sri Lanka’s development agenda, there are many business/investment opportunities in the country.
| Article Code : | VBS/AT/20022019/Z_3 |