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Tuesday, 30 September 2014 01:58 - - {{hitsCtrl.values.hits}}
“The US may be kn
own for its multinational giant corporations, but it is also the small and medium size enterprises (SMEs) that fuel the American economy. I firmly believe that American SMEs have a similar role to play here in Sri Lanka,” said the Ambassador during her address at the opening of the US Trade Show 2014 in Colombo yesterday.
“US copanies bring best practices that will allow Sri Lankan companies to become more efficient along with the transfer of technology, which is key for the nation as it aspires to be a mixed knowledge and commercial hub,” she added.
The trade show, orgainsed by American Chamber of Commerce (AMCHAM), featured 30 prestigious US companies. Its objective was to introduce local businesses and consumers to a broad selection of American products, services and technology.
Noting that American companies can take advantage of the Sri Lankan market which is not only dyna
mic but also strategically located for regional expansion, Ambassador Sison urged all local businesses and chambers to continue to work together and to look at growing a win-win profitable partnership with US which will further promote shared prosperity for both the countries and the region. Commending US companies for their strong business ethics that have helped retain and strengthen the important bilateral economic relationship, Sison emphasised that American companies were poised to achieve greater diversification into businesses, greater access to the regional supply chain and enhance competitiveness to their existing markets.
US Sri Lanka bilateral trade reached an all time high last year at $ 2.8 billion. Sri Lankan exports to the US in 2013 were up 9% to $ 2.5 billion and imports from US were only $ 312 million reflecting the huge imbalance in bilateral trade.
