<b>Lanka to be gateway to S. Asia: agreement with US shortly</b>

Kesara Abeywardena of The Island, in Washington D.C.

A trade and Investment Framework Agreement (TIFA) between the US government and Sri Lanka will be signed shortly to enhance US investment and trade with Sri Lanka with a view to making Sri Lanka a gateway to India and South Asia.

Matters relating to the TIFA were discussed and finalised when Prime Minister Ranil Wickremesinghe met US Trade Representative Robert Zoellick on Monday. The Prime Minister had expressed his economic vision and his desire to make Sri Lanka a gateway to the South Asia region and India in particular. The Sri Lankan delegation had pointed out that the massive Indian market could be tapped by US investors using Sri Lanka as an entry point.

Robert Zoellick had commended the economic policy of the Sri Lankan government and steps taken during the past few months to recover from the financial crisis the government is embroiled in. He had also praised the peace initiative of the government. The focus of the meeting had been on enhancing US investment in Sri Lanka and on ways of attracting more investors.

The US government will also appoint a separate trade representative for the South Asia region.

Promotion of the IT industry and environment-friendly development were also discussed at the meeting.

Economic Reforms and Science and Technology Minister Milinda Moragoda, Prime Minister’s Secretary Bradman Weerakoon and Minister Commercial at the Sri Lankan Embassy in Washington Saman Udagedara also attended the discussions.

Prime Minister Wickremesinghe will be meeting US President George W. Bush, Secretary of State Colin Powell and National Security Adviser Condoleeza Rice today.

Courtesy - The Island