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Sunday, 10 April 2011

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Right environment for new ventures - US business delegation

Sri Lanka has immenese potential for business development and the right environment has been created for new ventures, said a high-powered US business delegation during a visit to the country last week.

"We are exploring opportunities to set up retirement homes, spas and yoga meditation centres in Sri Lanka. We have seen the development in the country and the market for these ventures", said Director, AGL Partners Ltd. UK, Anke Treffkorn.

Treffkorn said that it was her maiden visit to Sri Lanka and she was surprised to see the vast development in the country which is ideal for investments.

"Sri Lanka is the most beautiful country I have visited and the people are extremely friendly.

I look forward to visit Sri Lanka again and explore more opportunities for business ventures" Treffkorn said.

AGL Partners is a London based real estate company which operates boutique hotels, ayurveda centres, spas and retirement homes in many countries.

The US business delegation comprised around 20 members of top multinational business establishments. Representatives of these companies are keen to invest and set up ventures in the country.

Hotels, airlines, healthcare, real estate, education, and venture capital are some of the sectors that represented the delegation. Sri Lanka's Ambassador to the US, Jaliya Wikremasuriya said that US investors are happy with the progress in Sri Lanka after the conflict and are keen to set up operations in the country.

The US and the United Kingdom are key markets of Sri Lankan apparel exports. Sri Lankan apparel exports benefitted from the European Union GSP Plus and GSP from the US. Tourist arrivals from USA last year were around 16,000 while in the previous year it was around 12,000.

Trade between Sri Lanka and USA has been low due to lack of awarness on opportunities and promotions.

Sri Lanka exports apparel and clothing, rubber articles, precious stones, coffee, tea and spices, plastics, fish and crustaceans and electrical machinery and equipment to the USA.

Aircraft, cereals, machinery and mechanical appliances, cotton, man-made filaments, paper and paper boards, knitted or crocheted fabrics are some of the items imported from USA.

 

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