Discusses means to increase Sri Lankan exports to Mexico

His Excellency Devinda R. Subasinghe, Ambassador of Sri Lanka to the US presented Credentials to His Excellency President Vicente Fox Quesada, President of Mexico on May 18, 2004 at the presidential residence of Los Pinos as Ambassador to Mexico, resident in Washington DC.

Since the establishment of diplomatic relations in 1960, Sri Lanka and Mexico have enjoyed strong bilateral ties. In 1995, President Chandrika Bandaranaike Kumaratunga visited Mexico.

During the discussion on bilateral issues with President Vicente Fox Quesada, Ambassador Subasinghe discussed collaboration between Mexico and Sri Lanka on the WTO Doha Development Agenda and the successful completion of the DDA. He also discussed bilateral trade and investment issues.

Ambassador Subasinghe discussed with President Fox of the constructive role played by Sri Lanka in advancing the Doha Development Agenda at the WTO Ministerial meeting in Cancun adding that Sri Lanka’s strategic interest in successfully concluding the Doha round was because 75% of Sri Lanka’s GDP is generated by trade. Ambassador Subasinghe had attended the WTO Ministerial meeting in September 2004 hosted by Mexico in Cancun.

The discussion also focused on the potential for developing the prospects for Mexican private investment in Sri Lanka as well as increasing the Sri Lanka’s foreign direct investment in Mexico. Ambassador Subasinghe and President Fox discussed Sri Lanka investment in Mexico. Specifically, the Global Stretchline Group, a joint venture between Stretchline (UK) Ltd, Brandot International Ltd (USA), MAS Holdings (Pvt) Ltd (Sri Lanka) and Grupo DEALS S.A. De C.V. (Mexico).

The potential for increasing trade between Sri Lanka and Mexico, particularly with regard to exporting high quality Sri Lankan tea to Mexico was also discussed. Sri Lanka currently is the supplier of high quality cinnamon worth US$ 39 million a year. Another key agenda item discussed was the establishment of a Sri Lanka representation in Mexico to supplement the concurrent accreditation of Ambassador Subasinghe from Washington D.C. The option to appoint a Sri Lanka Honorary Consul to Mexico was discussed.

Ambassador Subasinghe presenting Credentials to Chief of Protocol Ambassador Raphael Steger

In addition to the discussion with President Fox, Ambassador Subasinghe met with senior officials of the Ministry of Foreign Affairs including the Chief of Protocol Ambassador Raphael Steger, the Deputy Director General of the Asia Pacific Bureau and officials from the Ministry of Economy. He also met with several private sector executives.

Embassy of Sri Lanka
Washington DC
USA

18 May 2004