by Lalin Fernandopulle [October 14 2010]
Around 30 American companies are keen to invest in Sri Lanka which is nowon the global map for trade and investment, said President American Chamberof Commerce in Sri Lanka, Vijaya Ratnayake.
A&E, Limited Brands, Brandot International Limited, Pets V Care andImminent Technology DiNi Communications are some of the major companieskeen to invest in Sri Lanka.
He said the US perception about Sri Lanka has completely changed andinvestors are keen to make investment and develop trade and business links.“US investments in Sri Lanka this year are around US$ 250 million and thereis immense potential for investments to increase”, Ratnayake said.
Trade between Sri Lanka and USA has been low due to lack of trade links andinformation on rules and regulations. The cordial relations between the twocountries are expected to give a boost to trade and investment.
Items exported by Sri Lanka to USA are apparel and clothing, rubber andarticles, precious and semi-precious stones, coffee, tea, spices,miscellaneous chemical products, plastics, fish and crustaceans andelectrical machinery and equipment.
Sri Lanka’s exports to USA last year recorded Rs. 182,600 million andimports were Rs. 30,397 million.
Sri Lanka imports aircraft and spacecraft, cereals, mechanical appliances.cotton, electrical machinery, paper and paperboard, knitted or crochetedfabrics and man-made filaments.
Ratnayake said USA feels that Sri Lanka’s potential for economic growth ismuch higher and that the country could reach double digit growth next year.“US investors are positive about the economy of the country and Sri Lankacould go beyond the anticipated GDP growth this year”, he said
source - www.sundayobserver.lk/
No comments:
Post a Comment