Top U.S. trade official visits Sri Lanka ahead of trade talks
ECONOMYNEXT – Assistant U.S. Trade Representative for South Asia Michael J. Delaney visited Colombo for talks with government, trade, and business officials ahead of negotiations on the Trade and Investment Framework Agreement (TIFA) in Washington.
A U.S embassy statement said Delaney discussed ways to increase trade and investment between Sri Lanka and the United States.
He met with Minister of Development Strategy & International Trade Malik Samarawickrema and officials from the Ministry of Foreign Affairs, the Ministry of Public Enterprise Development, the Board of Investments, the Department of Commerce, and the Prime Minister’s office.
Delaney also discussed labor issues with representatives from unions and the Ministry of Labor and Trade Union Relations, as well as with members of the American Chamber of Commerce.
“Delaney also touched upon intellectual property rights during his meetings in Sri Lanka,” the statement said.
“Sri Lanka is now well-positioned to make important economic reforms,” it quoted Delaney as saying.
“If implemented, Sri Lanka could maximize its potential with stronger trade and foreign direct investment (FDI) performances.”
Trade and Investment Framework Agreements cover trade and investment issues between the United States and partner countries and serve to improve cooperation and enhance opportunities for trade and investment.
“Sri Lanka exports more to the United States than to any other country,” said U.S. Ambassador Atul Keshap. “Increasing bilateral trade and investment opportunities will enhance prosperity for all.”