2nd Sri Lanka US Public Private Partnership Conference Attracts US Firms

14th October 2010, www.dailynews.lk, By Sanjeevi Jayasuriya

“It is necessary to re-calibrate Sri Lanka for new assessments and the USA has a positive role to play in the country’s trade and investment,” Assistant United States Trade Representative for Central and South Asia Michael Delaney said.

He said Sri Lanka needs to work towards political reconciliation. “The resolution will be a steady process and reconciliation will facilitate economic growth. It is also important to focus on inclusive economic growth.”

The end of war was a huge event in Sri Lanka’s history and has provided enormous opportunities. However the country faces many challenges and needs to overcome them by capitalizing on trade and investment power it possesses, Delaney said.

The second Sri Lanka US Public Private Partnership conference was held in Colombo yesterday. The conference aims to promote closer linkages between the private sector business leaders of the United States and Sri Lanka and to involve their maximum participation in the post conflict development initiatives launched by the Government.

“Sri Lanka would emerge as a key economic power and it looks forward to core benefits of peace.

The conference is a productive exercise in harnessing emerging opportunities in Sri Lanka to make it a dynamic economic hub,” Industry and Commerce Ministry Secretary Tilak Collure said.

“The sectors such as port, tourism, IT, agro and fisheries could be revitalized for economic development”.

“There will be positive impact on our concerted efforts to enhance trade and investment relationships with the USA,” he said.

Sri Lanka should be made the next business stop for countries such as the USA. The investment in the country will fuel the economic growth. The prospects of peace and reconciliation will lead to prosperity, Sri Lanka’s Ambassador in United States of America Jaliya Wickramasuriya said.

“The Northern Province will be a major player in the country’s development drive. There will be over Rs one billion worth of development activities in the Province. The economy is steady and moving. It looks positive of the future growth. The country should be showcase as place to do business,” he said.

There were a large number of US firms that are keen to invest in sectors such as agro-based products, textile and clothing, hospitality industry, telecommunication, domestic air transport, IT/BPO, healthcare and jewellery manufacturing, participated in the conference.

Image: Assistant United States Trade Representative Michael Delaney addressing the meeting. Board of Investment Executive Director (Promotion) Duminda Ariyasinghe, Central Bank Assistant Governor C J P Siriwardena, Commerce Department Director-General Gomi Senadhira, Industry and Commerce Ministry Secretary Tilak Collure, Sri Lankan Ambassador in US Jaliya Wickramasuriya, Industry and Commerce Minister Rishad Bathiudeen, Charge d’ Affaires of the United States to Sri Lanka Valerie C Fowler, Brandot International Limited Chief Executive Officer Martin Trust, South Asia and Oceania US Department of Commerce Official Erol Yesin look on. Picture by Roshan Pitipana.