US envoy assures to boost SL’s competitiveness

Wednesday, 4 December 2019 02:14 - - {{hitsCtrl.values.hits}}

US Ambassador Alaina B. Teplitz yesterday assured to extend support to be part of Sri Lanka’s rising tide, particularly in the areas of partnerships, regulatory consistency, political stability, and rule of law, to boost Sri Lanka’s competitiveness.

Speaking at ICSE International Women’s Conference 2019, the Ambassador said the US was looking forward to working with President Gotabaya Rajapaksa for a strong and sovereign Sri Lanka, based on extensive partnerships that can foster economic growth.

US Ambassador to Sri Lanka Alaina B. Teplitz - Pic by Upul Abayasekera

“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 said.

The Ambassador also outlined 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 pointed out. She also emphasised that investments, reciprocal trade, and workplace improvements that generate real opportunities will yield higher growth.

However she noted that an accelerated growth rate is dependent on extensive partnerships, consistent regulatory policy, stable politics, and the rule of law. “These attributes partnerships, regulatory consistency, political stability and rule of law, which will boost Sri Lanka’s competitiveness,” the Ambassador said.

The Ambassador asserted 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 added.