Lanka - US efforts to create jobs in war-affected regions

The seventh U.S.-Sri Lanka Trade and Investment Framework Agreement (TIFA) Council meeting was held in Colombo, last week aiming at generating jobs in the war-torn areas.

The U.S. delegation was led by Assistant United States Trade Representative for South and Central Asia Michael Delaney. Export Development and International Trade Minister Prof. G.L. Peiris led the Sri Lankan delegation, a US Embassy release said.

"Our purpose is to foster economic development and generate jobs, particularly in the war-affected areas of Sri Lanka," Michael Delaney said.

"The meetings served to identify areas of common interest and deepen our commitment to expanded bilateral trade and investment between the United States and Sri Lanka. We also identified new areas of cooperation between our two countries."

"The TIFA has become an effective tool in attracting private sector participation in its post-conflict development efforts and the Government appreciates the most valuable cooperation the United States continue to extend on this direction.

TIFA is certain to play an increasingly important role in further advancing the long standing relations between the United States and Sri Lanka," Minister Peiris said.

U.S. and Sri Lankan officials gauged the progress the two countries have made in advancing bilateral trade and investment since the last TIFA Council meeting in May 2008. The Government representatives discussed common areas of interest which the two countries can work together to further expand bilateral trade and cooperation.

The representatives discussed the status of the ongoing WTO/Doha negotiations, Sri Lanka's use of the U.S. Generalized System of Preferences (GSP) program, and U.S. trade capacity building assistance to Sri Lanka.

The TIFA Council also discussed issues affecting U.S. exports including; Sri Lanka's agricultural biotechnology policies; high import tariffs; intellectual property rights protection and transparency in Government procurement.