US Sri Lanka Trade Investment Framework Agreement Talks Highlight Bio-Technology, Import Duty, Market Access and Intellectual Property Rights

16th October 2010, www.dailynews.lk, By Sanjeevi Jayasuriya

A wide range of topics including bio-technology, import duty, market access and intellectual property rights were discussed during the eight round of talks under the US-Sri Lanka Trade Investment Framework Agreement (TIFA) held yesterday in Colombo.

The talks were very cordial and productive. We emphasised that we were convinced of better days ahead for Sri Lanka. The USA will do all it can to assist the country to achieve economic progress, Assistant United States Trade Representative for Central and South Asia Michael Delaney said.

"The talks were fruitful and both sides have to do a lot of homework," he said.

"The GSP will successfully resolve in near future. We are satisfied with the cooperation we received from Sri Lanka and are looking at increasing the benefits of the GSP program," he said.

The talks focused on matters pertaining to securing enhanced access for Sri Lankan and US exports in each others' markets, promotion of US investment into Sri Lanka, intellectual property rights and exchange of technical cooperation.

The two parties agreed to work towards a comprehensive plan of action that would guide appropriate follow up on areas of mutual interest through engagement of respective private and public sectors.

The two Governments continued their talks on how best they could promote private and public partnership cooperation between the two countries in addition to their discussions on matters relating to trade and investment.

The two delegations also discussed avenues available to them to involve private sector stakeholders in numerous investment opportunities available for them in post-conflict Sri Lanka. Both delegations were pleased with the outcome of the fact-finding visit to Jaffna on Tuesday and the Public-Private Partnership held on Wednesday.

Image: Economic and Commercial Affairs Chief of the US Embassy in Colombo Edward P Heartney and Assistant United States Trade Representative for Central and South Asia Michael Delaney. Picture by Sumanachandra Ariyawansa.