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| Thursday, 25 November 2004 |
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AMCHAM to promote US business in Lanka by Irangika Range The American Chamber of Commerce in Sri Lanka (AMCHAM) has organised a visit of the Indian business delegation to explore the possibility of financial collaboration in establishing a joint venture for US business in Sri Lanka. The objective of the business delegation is to promote AMCHAM's mission to build US business links in its member countries such as Sri Lanka and India. A trade delegation of businessmen representing a cross section of 15 US companies will strengthen trade ties basically on telecommunication, ICT, health care, financial service and medium scale industries in Sri Lanka. AMCHAM President Kishore Rao said that AMCHAM organised a successful tour of a Sri Lankan business delegation to India this year. "It has also planned to organise more visits of local businessmen to Hong Kong, China, Singapore and Malaysia next year," Rao said. "Some businessmen in this Indian business delegation are already conducting business activities in Sri Lanka. They engaged in a series of meetings with the Sri Lankan government and the BOI. These discussions were based on taking steps to create a more positive environment for foreign investment while giving special attention to current labour laws, policy making processes and possible changes in taxes," Rao said. Rao said that Sri Lanka already has one of the most open economies in South Asia and US companies hope that the Sri Lankan Government would move fast to implement better economic reforms and reactivate the peace process, which would give US investors more incentives to look at Sri Lanka as a business hub. "With an FTA already in place with India and one close to being finalised with Pakistan, Sri Lanka definitely has the potential to be a hub for US trade with South Asia," he said. "AMCHAM's mission is to build relations in 22 countries of the Asia Pacific region prior to approaching the US directly for trade. The AMCHAM in Sri Lanka brings together over 285 Sri Lankan and American companies in Sri Lanka engaging in trade, business and investment activities between the two countries," he said. |
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