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The Trade and Investment Framework Agreement (TIFA) signed between USA and Sri Lanka signified USA's attachment to Sri Lanka as a trade partner because the US has signed TIFAs with a few selected countries, an Ambassador ranked US Deputy Trade Representative Jon Huntsman said.

He was speaking at the first joint council meeting of the US Sri Lanka TIFA, yesterday in Colombo where both countries had agreed to continue the dialogue on a regular basis and to hold the next joint council meeting in Washington next year.

The US delegation led by Ambassador Huntsman comprised William H. Avery, Elena Brian Teresa Manlowe and US Ambassador in Colombo E. Ashley Wills and the Sri Lankan team was jointly led by Commerce and Consumer Affairs Minister Ravi Karunanayake, Enterprise Development, Industrial Policy and Investment Promotion and Constitutional Affairs Minister Prof. G.L. Peiris and Foreign Minister Tyronne Fernando.

Minister Karunanayake said that the US-Sri Lanka trade relations date back to the 19th century, where the first US trade representative John Mac was placed in Galle in 1815.

The meeting discussed a wide range of subjects pertaining to bilateral and multilateral interest, including trade and economic relations, Sri Lanka's peace initiative and related developments, Sri Lanka's investment climate and the opportunities prevailing for US and Sri Lankan private sectors. The discussion also included the possible areas of bilateral cooperation for a successful outcome at the WTO Doha round of negotiations.

The US-Sri Lanka TIFA was signed in Washington on July 25, 2002, during Prime Minister Ranil Wickremesinghe's US tour.

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