United States is open for business – Offering Sri Lanka open, fair and reciprocal trade

Friday, 2 March 2018 00:00 - - {{hitsCtrl.values.hits}}

US Department of Commerce Advocacy Centre Director Stephen Renna recently met with Government leaders and US companies in Colombo to discuss opportunities to increase US exports to Sri Lanka.

“The United States is eager to expand open, fair and reciprocal trade,” stated Renna during his visit. American companies are some of the most dependable business partners anywhere in the world.

US Ambassador in Sri Lanka Atul Keshap emphasised: “US companies produce the highest quality goods and services with the highest standards for ethics, corporate social responsibility, employee benefits, and environmental awareness.”

Further, when selling goods and services to foreign governments, the US Foreign Corrupt Practices Act makes it unlawful for US firms and American citizens to pay bribes or otherwise violate the law. The values, practices, and international standards that American companies bring to the table make them the finest partners for improving standards and quality throughout business ecosystems.

Trade and investment are the engines of growth and employment, and the United States is Sri Lanka’s largest trading partner, purchasing around $ 2.9 billion (Rs. 445 b) in Sri Lankan goods in 2017, sustaining tens of thousands of jobs in Sri Lanka. Those exports not only create employment, they bring nearly $7 million per day of hard currency into Sri Lanka, hard currency the Sri Lankan economy relies upon to lubricate the gears of commerce.

Last year the United States exported $337 million of goods to Sri Lanka. There is tremendous opportunity for that figure to grow. American firms provide Sri Lanka with top quality, fair and reliable solutions Sri Lanka needs to expand transportation infrastructure, improve agricultural output, attract more tourists and provide and improve services for its citizens.

The US Embassy economic and commercial team is available at any time to help Sri Lankan companies do business with the United States, and can be reached via [email protected].

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