Thursday Aug 14, 2025
Thursday Aug 14, 2025
Thursday, 14 August 2025 00:34 - - {{hitsCtrl.values.hits}}
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| US Ambassador Julie Chung |
Over 50 US companies took part in a US Department of Commerce webinar on Sri Lanka’s port sector to explore opportunities in advanced port technologies.
The webinar, titled ‘Gateways to Growth: Sri Lanka and the Maldives – Powering Major Hubs and Strategic Projects,’ was hosted by the US Commercial Service, the trade promotion arm of the US Department of Commerce’s International Trade Administration, and featured the Sri Lanka Ports Authority.
US Ambassador Julie J. Chung on Tuesday (12) posted on ‘X’ that led by the Port of Colombo, South Asia’s top transshipment hub, Sri Lanka’s ports drive global trade across the Indo-Pacific.
“Today I addressed over 50 U.S. firms, alongside Sri Lanka Ports Authority, eager to learn about Sri Lanka’s port sector at a @CommerceGov webinar, a learning opportunity for U.S. businesses exploring the sector to learn how their advanced American port sector technologies can help Sri Lanka expand its cargo capacity and operational efficiency, speeding US goods to global markets and strengthening US–Sri Lanka economic and trade ties,” she added.
A presentation slide from the webinar, also shared by Ambassador Chung, said: “Sri Lanka is strategically positioning itself as a multimodal logistics hub in the Indian Ocean, leveraging its geographic location between major shipping routes. With the highest road density in South Asia, expanding sea ports, and comprehensive transportation infrastructure, the country is developing integrated services across air, sea, and land to become a pivotal player in global trade.”
The engagement with US businesses comes as Sri Lanka secured a further reduction in reciprocal tariffs on its exports to the US to 20% from 30%, following an initial 44% rate imposed in April. The latest cut, effective 1 August, puts Sri Lankan exports on par with competitors such as Bangladesh and Vietnam in key sectors, including apparel.
Treasury Secretary Dr. Harshana Suriyapperuma in early August said the Government’s approach goes beyond tariff negotiations to include market access reforms, trade facilitation measures, and governance improvements. Plans include implementing the National Tariff Policy and a Single Window system to streamline trade processes, while pursuing zero tolerance on corruption to lower the cost of doing business.
The Government is also promoting technology transfer opportunities for US suppliers in machinery, innovation, and other advanced capabilities. Dr. Suriyapperuma said discussions with US authorities are at an advanced stage and will shape a recalibrated export strategy in collaboration with exporters, local industries, and State institutions.
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