US to conclude review on preferential trade with Sri Lanka
Assistant US Trade Representative for South and Central Asia Michael Delaney told the media when he ended his visit to Sri Lanka that discussions between the government and other stakeholders have been fruitful and the negotiations have reached an “advanced stage.”
However, he declined to give a timetable though the Sri Lankan Commerce and Industry Ministry said in a statement that the review of the Generalized System of Preferences would be completed by the end of this month.
“The US values relations with Sri Lanka and hopes to see it grow. There are no specific requirements but adherence to International Labor Organization standards is positive. We have a lot to offer Sri Lanka and the golden age of our relations is now, ” he said.
The United States was the largest single buyer of Sri Lankan goods in Y 2011, taking nearly 22% of total exports worth US$2.15-B.
The Generalized System of Preferences has been under review since Y 2010 and the Sri Lankan government has requested for its speedy conclusion.
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