US Ambassador
Alaina B. Teplitz yesterday vowed to expand support to be part of the rising
tide of Sri Lanka, especially in the areas of alliances, regulatory continuity,
political stability and the rule of law, to improve the competitiveness of Sri
Lanka. Speaking at the 2019 ICSE International Women's Conference, the
Ambassador said the US looked forward to working for a stable and independent
Sri Lanka with President Gotabaya Rajapaksa, based on extensive partnerships
that can promote economic growth.
"I tweeted
a congratulatory message to the people of Sri Lanka shortly after the
presidential election and said that I was looking forward to working with
President Rajapaksa. The President responded to me by emphasising his desire
for warm and mutually beneficial relationships, relationships with a focus on
bilateral economic and trade ties, including increased investment inward,
"she said.
"American
business offers jobs, skills, emerging technologies, and the business
environment's highest ethical and workforce standards. Sustainable and
equitable economic development is crucial to protect the future of Sri
Lanka," said Teplitz. She also emphasised that higher growth would result
in innovation, fair trade, and workforce changes that generate real
opportunities.
She noted,
however, that an accelerated rate of growth depends on comprehensive alliances,
effective regulatory strategies, stable laws, and the rule of law. "These
strengths are alliances, regulatory flexibility, political stability, and the
rule of law that will improve the competitiveness of Sri Lanka," said the
Ambassador.
The Ambassador
said that shared prosperity is vital to Sri Lanka and the United States.
"The soaring tide that raises all boats is shared prosperity. I hope the
U.S. can be a part of the rising tide of Sri Lanka," she said.
OSL Take: The US ambassador’s statement reflects the
sentiments of the US towards Sri Lanka and its economy. The confidence
expressed by the top US official in Sri Lanka would result in more American
business ventures exploring business/investment opportunities in Sri Lanka.
Therefore, it would be opportune for local businesses to venture into the EU
business market to form joint ventures.
Sri Lanka has
been recording a continuous growth in its trade sector through the adoption of
the latest techniques and technologies. Also, Sri Lanka’s geographical
positioning in the Indian Ocean, the ease of doing business environment in the
country, and the many trade agreements, as well as the trade concessions
enjoyed by the state, have made it an attractive business destination in the
South Asian region. All these have resulted in further strengthening Sri
Lanka’s trade and bilateral ties with many countries. Foreign
businesses/investors could, therefore, explore business opportunities in Sri
Lanka for lucrative returns.
VBS/AT/10022020/Z_TB4
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