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.

US Road Show in Sri Lanka on Doing Business. Private Public Partnership (PPP) Conference to be Held Today

13th October 2010, www.dailynews.lk, By Sanjeevi Jayasuriya

Sri Lanka will showcase investment and trade opportunities the country could offer for US companies with a series of discussions and visits for potential areas.

“We have 25 foreign company representatives who are currently in Sri Lanka exploring opportunities. There are 17 US companies and 10 Indian based US companies among the visiting delegation,” a Commerce Department official told Daily News Business.

The delegation is led by the Assistant US Trade Representative for Central and South Asia Michael Delaney together with US Government officials.

The peaceful and conducive environment in the country has helped emerging investment and trade opportunities. The delegation visited Jaffna yesterday to gain first hand information on opportunities available. The inauguration of the Private Public Partnership (PPP) conference will be held today with the participation of private sector business executives, representing US companies based in the US as well as India.

There will also be talks under the US-Sri Lanka Trade and Investment Framework Agreement (TIFA) to create awareness to capture opportunities.

The US delegate visit was organized by the Sri Lanka Embassy in Washington with the Commerce Department and the US Embassy in Sri Lanka.

Meanwhile the US Embassy in Sri Lanka, in a press release said the Embassy, together with the US Commercial Service and the US Small Business Administration, is organizing a road show seminar called Doing Business which will visit several locations in Sri Lanka. The first seminar, featuring the Assistant US Trade Representative Michael Delaney, will take place in Colombo on October 15. Subsequent seminars will be held in Galle (October 18), Kandy (October 20) and Trincomalee (October 21).

The improved business climate in Sri Lanka following the end of the ethnic conflict and the opening up of the North and East for trade and investment makes this an opportune time for the business community to learn more about increasing trade between the United States and Sri Lanka. According to the Commercial Director at the US Embassy in Colombo, Ken Kero-Mentz, this is the first Embassy Doing Business seminar that will visit some of the key provinces outside of Colombo.

It will give out valuable information to help expand rural economies and assist small and medium-sized enterprises (SME).

The “Doing Business” seminar will include in-depth presentations by officials from the US Embassy, the US Foreign Commercial Service, and the US Small Business Administration. Sri Lanka’s Export Development Board will introduce the sessions. Each seminar will conclude with a discussion led by a Board member from the American Chamber of Commerce and leaders of the local business chambers.

US technology and knowledge can help Sri Lanka’s companies compete effectively in the today’s challenging international markets.

Speakers at this “Doing Business” seminar will talk about partnering and doing business with US companies and increasing competitiveness in the global economy.

They will also discuss Sri Lanka’s export sector, buying American products as a way to grow Sri Lanka’s economy and the growing importance of SME’s in the global financial system.

The “Doing Business” seminar is expected to attract importers, business people, members of trade associations, manufacturers, and entrepreneurs interested in learning more about how doing business with the United States can help their bottom line.