Amunugama lures US firms to invest in Sri Lanka

Wednesday, 20 April 2011 00:07 - - {{hitsCtrl.values.hits}}

(Dr.) Sarath Amunugama, Senior Minister for International Monitory Cooperation of Sri Lanka highlighted the growing trade and investment potential of Sri Lanka to a group of leading U. S. entrepreneurs, whom he addressed over a luncheon meeting in Washington D.C. recently.

“Sri Lanka stands out as one of the oldest democracies and culturally diverse nations in the region. While there is no division along ethnic lines, the Sinhalese, the Tamils, the Muslims and other ethnic groups continue to live as one nation” the minister said in his opening remarks.

“The war is a thing in the past, and Sri Lanka now ranks as one of the most stable and safest places to do business. With over 8% growth in 2010 and other numerous macro economic achievements, Sri Lanka is on course to join the second tier countries, a grouping which includes economies such as South Africa and Vietnam,” he added.

In collaboration with the Sri Lankan Embassy, the luncheon was hosted by the Business Council for International Understanding (BCIU), a body created by a White House initiative in 1955 under the leadership of President Eisenhower, which facilitates dialogue and alliances between world businesses and political leaders. The BCIU membership includes over 150 leading businesses in the world.

Sri Lankan Ambassador to the United States and Mexico, Jaliya Wickramasuriya and the IMF Alternate Director for India, Sri Lanka, Bangladesh and Bhutan, Dr. Nandalal Weerasinghe joined Dr. Amunugama at the meeting.

Highlighting the Indo-Sri Lanka Free Trade Agreement, the minister said that Sri Lanka was an excellent launching pad to enter major regional markets, in particular India, with fast growing populations and purchasing power. He invited the U. S. businesses to make use of the opportunity.

The gathering was attended by senior executives of several major U. S. firms, including the Boeing, Textron Inc., Burson-Marsteller, BGR Group, Transinnova International etc.

Dr. Amunugama is currently in Washington D.C., heading the Sri Lanka delegation to the IMF/World Bank Spring Meetings.