August 17, Colombo (LNW): Sri Lanka has a valuable opportunity to strengthen its position in global trade by streamlining regulatory processes and removing unnecessary trade barriers, according to US Ambassador to Sri Lanka Julie Chung.
During a recent meeting with senior representatives of the Ceylon Chamber of Commerce, the Ambassador encouraged Sri Lanka to take decisive steps toward fostering a more business-friendly environment. She emphasised the importance of reducing non-tariff barriers, promoting greater openness, and enhancing overall competitiveness to attract higher levels of trade and investment.
Ambassador Chung described the present moment as a critical window for Sri Lanka to reposition itself in the evolving global economy. She pointed out that with many international firms reassessing their supply chains and regional strategies, Sri Lanka could emerge as a compelling destination for investment—provided that the right policy measures are put in place.
Her comments were made during discussions with Chamber Chairman Krishan Balendra, Vice Chairman Bingumal Thewarathanthri, Deputy Vice Chairman Vinod Hirdaramani, Secretary General and CEO Buwanekabahu Perera, and other private sector leaders. The talks focused on enhancing trade relations between the United States and Sri Lanka, expanding bilateral investment opportunities, and exploring areas for long-term economic collaboration.
Congratulating Mr. Balendra on his recent appointment as Chairman, Ambassador Chung reiterated the US Embassy’s commitment to working closely with the Ceylon Chamber of Commerce, which she acknowledged as the country’s most prominent private sector body. She also expressed appreciation for the Sri Lankan Government’s constructive approach to ongoing trade discussions, describing recent negotiations as fair, reciprocal, and grounded in mutual respect.
The meeting also touched on Sri Lanka’s strategic location within the Indian Ocean and its untapped potential as a regional trade hub. With global businesses increasingly turning their attention to South Asia, Ambassador Chung noted that Sri Lanka is well-positioned to benefit from shifting investment trends—particularly if the government continues to pursue meaningful economic reforms and regulatory modernisation.
