United States support promised for SL’s development needs

President Gotabaya Rajapaksa in discussion with US Secretary of State Mike Pompeo. US Ambassador in Sri Lanka Alaina B. Teplitz is also in the picture

• US Secretary of State Mike Pompeo pledges support for SL to realise economic development goals 
• Says priority will be given to promote US investments in SL
• Extends support to SL’s operations against drug smuggling 
• Urges need for Indian Ocean to remain a peace zone

US Secretary of State, Mike Pompeo, who met with President Gotabaya Rajapaksa yesterday at the Presidential Secretariat, has expressed the intent of the United States government to support Sri Lanka to fulfill its economic development needs, a media release issued by the President’s Media Division said.

The US remains Sri Lanka’s largest trade partner and buyer of merchandise export goods, which account for more than quarter of the export earnings Sri Lanka receives. 

Sri Lanka exported over US$ 2.7 billion worth of goods to US in 2019 and imported US$ 390 million worth of goods, creating over US$ 2.3 billion trade balance in favour of Sri Lanka.

Up to August this year, Sri Lanka has exported over US$ 1.5 billion worth of goods to US and imported US$ 245 million worth of goods.

Compared to the US, Sri Lanka’s trade balance with China remains in China’s favour. In 2019, Sri Lanka imported goods worth of US$ 4 billion from China, which amounted to 20 percent of the total import expenditure.

 
During the meeting, Secretary Pompeo also had pledged to further strengthen bilateral relations between the two countries. He said priority would be given to promote US investments in Sri Lanka. 

Explaining Sri Lanka’s foreign policy, President Rajapaksa said Sri Lanka will always maintain a neutral stand and will not get entangled in struggles between world power blocs. 

He also said he will never compromise on Sri Lanka independence, sovereignty and territorial integrity when carrying out foreign relations.

President Gotabaya also dismissed claims about a Chinese debt trap and stressed that China helped Sri Lanka to build its physical infrastructure after the 30-year old separatist war. Meanwhile, US and Sri Lanka agreed to further strengthen the defence cooperation between the two nations, including the training of Sri Lankan military personnel in the US.

Secretary Pompeo also expressed America’s willingness to support Sri Lanka’s moves to thwart drug smuggling by strengthening the country’s coast guard services. Meanwhile, Secretary Pompeo reiterated America’s expectation of keeping the Indian Ocean a peace zone and applauded the friendly relations between India and Sri Lanka.