‘US offers SL open, fair and reciprocal trade’ | Sunday Observer

‘US offers SL open, fair and reciprocal trade’

Director of the Advocacy Centre at the US Department of Commerce, Stephen Renna recently met with government leaders and officials of US companies in Colombo to discuss opportunities to increase US exports to Sri Lanka.

American companies are some of the most dependable business partners anywhere in the world, Ambassador Keshap emphasised,

When selling goods and services to foreign governments, the US Foreign Corrupt Practices Act makes it unlawful for US firms and American citizens to pay bribes or otherwise violate the law.

The values, practices, and international standards that American companies bring to the table make them the finest partners for improving standards and quality throughout business ecosystems.

Trade and investment are the engines of growth and employment, and the United States is Sri Lanka’s largest trading partner, purchasing around $2.9 billion (Rs. 445 billion) in Sri Lankan goods in 2017, sustaining tens of thousands of jobs in Sri Lanka.

Those exports not only create employment, they bring nearly $7 million per day of hard currency into Sri Lanka, hard currency the Sri Lankan economy relies upon to lubricate the gears of commerce. Last year, the United States exported goods worth $337 million to Sri Lanka.