SRI LANKA: US TRADE MISSION A SUCCESS

UNCLAS COLOMBO 002106 SIPDIS SENSITIVE, SIPDIS BFIF FOR DENNIS WINSTEAD STATE FOR SCA/INS E.O. 12958: N/A TAGS: ECON ELAB EIND ETRD PHUM SOCI EAID CE SUBJECT: SRI LANKA: US TRADE MISSION A SUCCESS REF: STATE 192740 ¶1. (SBU) Summary: The extended business outreach project involving four US companies to Sri Lanka, who were part of a major US trade delegation to India, was successfully concluded with the participating companies reporting encouraging prospects. Post would like to acknowledge the efforts and timely action taken by staff of EB/CBA to provide funding and valuable support which greatly contributed to the effective implementation of this program. End Summary ¶2. (U) Following are details of expenditure incurred for the outreach program: Meeting room hire for briefings by Post officials and Department of Commerce presentation: $100.00 Meeting rooms for individual meetings with local companies: $200.00 Total: $300.00 ¶3. (U) The December 6-7 outreach program to Sri Lanka comprised four companies: Lockheed Martin, GE Water Systems/Healthcare, GE Power Systems, and Business & Strategic Consultants Incorporation Inc (BSCII). The initial day was aimed at providing the companies an overview on the economic and investment climate and current political situation in the country. Ambassador Blake and Econoff provided an extensive briefing on these sectors and offered valuable advice on doing business in/with Sri Lanka. The Executive Director of the Board of Investment (BOI) outlined the opportunities for investment in Sri Lanka with emphasis on areas of interest for US companies and the advantages and incentives of the Indo/Sri Lanka FTA for companies looking to penetrate the Indian market. A luncheon meeting with officials of Chevron, Price Waterhouse and the USAID Competitiveness program provided the participants an opportunity to be briefed on the private sector outlook of the economy and investment climate in the country and the prospects and challenges for companies investing and doing business with Sri Lanka. The representatives of these organizations pledged their support to the US companies in terms of providing advice and guidance in investing in Sri Lanka and entering into the local market. The Department of Commerce (DOC) provided a detailed presentation on the Indo/Lanka FTA to the participants. ¶4. (SBU) Individual meetings were scheduled for Lockheed and BSCII. These companies met with some of the leading private sector companies in Sri Lanka including the country's premier blue chip company, John Keells Holdings. Follow-up meetings were arranged to further discuss partnerships and business prospects for Sri Lanka. Additionally, the Lockheed Representative met with the Managing Director of the Sri Lanka Ports Authority (SLPA) and Director of the Civil Aviation Authority to discuss possible use of Lockheed vessel tracking and aviation technology in the country. The GE Water/Healthcare representative participated in the first day of the program and discussed possibilities for health and water technologies with the BOI officials. The GE Energy representative arrived from India to meet with their partners in the proposed power project in the country. The GE Energy representative informed Emboff that one of his major reasons for his brief participation in the outreach program was to extend his appreciation to the efforts by Embassy to advocate a power project with GE participation, which is close to final approval by the GSL. ¶5. (SBU) Comment: Lockheed and BSCII report that their participation in the business outreach program to Sri Lanka has generated significant opportunities for entry into the Sri Lankan market. The SLPA is willing to consider the offer of vessel tracking management systems from Lockheed while BSCII has received encouraging responses from local companies interested in partnering with the firm. GE Water and Health Care will continue pursuing opportunities in the water and health sectors, which are high priority areas for the GSL. GE Energy will closely follow the combined cycle power project and will be interested in generating opportunities in the hydro power sector thereafter. Post will provide follow-up assistance to facilitate collaborations and business opportunities for all companies that participated in the program. BLAKE