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TREATIES AND OTHER INTERNATIONAL ACTS SERIES 93-501 

TRADE AND INVESTMENT 

Treaty Between the 

UNITED STATES OF AMERICA 

and SRI LANKA 

Signed at Colombo September 20, 1991 

with 

Annex and Protocol and 

Exchange of Letters 
 

 

NOTE BY THE DEPARTMENT OF STATE 

Pursuant to Public Law 89—497, approved July 8, 1966 

(80 Stat. 271; 1 U.S.C. 113)— 

“. . .the Treaties and Other International Acts Series issued 

under the authority of the Secretary of State shall be competent 

evidence . . . of the treaties, international agreements other than 

treaties, and proclamations by the President of such treaties and 

international agreements other than treaties, as the case may be, 

therein contained, in all the courts of law and equity and of maritime 

jurisdiction, and in all the tribunals and public offices of the 

United States, and of the several States, without any further proof 

or authentication thereof.” 
 

 

 

 

 

 

 

 

 

SRI LANKA 

Trade and Investment 

Treaty signed at Colombo September 20, 1991, 

with annex and protocol and exchange of letters; 

Transmitted by the President of the United States of America 

to the Senate March 24, 1992 (Treaty Doc. 102-25, 

102d Congress, 2d Session); 

Reported favorably by the Senate Committee on Foreign Relations 

August 6, 1992 (Senate Executive Report No. 102-46, 

102d Congress, 2d Session); 

Advice and consent to ratification by the Senate 

August 11, 1992; 

Ratified by the President October 13, 1992; 

Ratified by Sri Lanka February 5, 1993; 

Ratifications exchanged at Washington April 1, 1993; 

Entered into force May 1, 1993. 
TREATY BETWEEN 

THE UNITED STATES OF AMERICA 

AND THE DEMOCRATIC SOCIALIST REPUBLIC OF SRI LANKA 

CONCERNING 

THE .ENCOURAGEMENT AND 

RECIPROCAL PROTECTION OF INVESTMENT 

The . United States of America and the Democratic Socialist 

Republic of Sri Lanka (hereinafter the •parties•); 

Desiring to promote greater economic cooperation between 

them, with respect to investment by nationals and companies of 

one Party in the territory of_the other Party; 

Recognizing that agreement upon the treatment to be 

accorded such investment will stimulate the flow of private 

capital and the economic development of the Parties; 

Agreeing that fair and equitable treatment of investment is 

desirable in order to maintain a stable framework for 

investment and maximum effective utilization of economic 

resources; 

Recognizing that the development of economic and business 

ties can contribute to the well-being of workers in both 

Parties and promote respect for internationally recognized 

worker rights; and 

Having resolved to conclude a Treaty concerning the 

encouragement and reciprocal protection of investment; 

Have agreed as follows: 
-2-

ARTICLE I 

1. For the purposes of this Treaty, 

(a) •investment• means every kind of investment in the 

territory of one Party owned or controlled directly or 

indirectly by nationals or companies of the other Party, such 

as equity, debt, and service and investment contracts; and 

includes: 

(i) tangible and intangible property, including 

rights such as mortgages, liens and pledges; 

(ii) a company or shares of stock or other 

interests in a company or interests in the 

assets thereof; 

(iii) a claim to money or a claim to performance 

having economic value, and associated with an 

investment; 

(iv) intellectual property which includes, inter 

alia, rights relating to: 

literary and artistic works, including sound 

recordings, 

patentable inventions in all fields of human 

endeavor, 
-3-

industrial designs, 

semiconductor mask works, 

trade secrets, know-how, and confidential 

business information, and 

trademarks, service marks, and trade names; 

and 

(v) any right conferred by law or contract, and 

any licenses and permits pursuant to law; 

(b) •company• of a Party means any kind of 

corporation, company, association, partnership, or other 

organization, legally constituted under the laws and 

regulations of a Party or a political subdivision thereof 

whether or not organized for pecuniary gain, or privately or 

governmentally owned or controlled; 

(c) •national• of a Party means a natural person who is 

a national of a Party under its applicable law; 

(d) •return• means an amount derived from or associated 

_with an investment, including profit; dividend; interest; 

capital gain; royalty payment; management, technical assistance 

or other fee; or returns in kind; 

(e) •associated activities• include the organization, 

control, operation, maintenance and disposition of companies, 

branches, agencies, offices, factories or other facilities for 
-4-

the conduct of business; the making, performance and 

enforcement of contracts; the acquisition, use, protection and 

disposition of property of all kinds including intellectual 

property rights; the borrowing of funds; the purchase, 

issuance, and sale of equity shares and other securities; and 

the purchase of foreign exchange for imports. 

2. Each Party reserves the right to deny to any company 

the advantages of this Treaty if nationals of any third country 

control such company and, in the case of a company of the other 

Party, that company has no substantial business activities in 

the territory of the other Party or is controlled by nationals 

of a third country with which the denying Party does not 

maintain normal economic relations. 

3. Any alteration of the form in which assets are invested 

or reinvested undertaken in accordance with the laws of the 

Party concerned, provided that the application of such laws 

does not impair any rights under this Treaty, shall not affect 

their character as an investment. 
-sARTICLE II 

1. Each Party shall permit and treat investment, and 

activities associated therewith, on a basis no less favorable 

than that accorded in like situations to investment or 

associated activities of its own nationals or companies, or of 

nationals or companies of any third country, whichever is the 

most favorable, subject to the right of each Party to make or 

maintain exceptions falling within one of the sectors or 

matters listed in the Annex to this Treaty. Each Party agrees 

to notify the other Party before or on the date of entry into 

force of this Treaty of all such laws and regulations of which 

it is aware concerning the sectors or matters listed in the 

Annex. Moreover, each Party agrees to notify the other of any 

future exception with respect to the sectors or matters listed 

in the Annex, and to limit such exceptions to a minimum. Any 

future exception by either Party shall not apply to investment 

existing in that sector or matter at the time the exception 

becomes effective. The treatment accorded pursuant to any 

exceptions shall, unless specified otherwise in the Annex, be 

not less favorable than that accorded in like situations to 

investments and associated activities of nationals or companies 

of any third country. 
-6-

2. (a) Investment shall at all times be accorded fair and 

equitable treatment, shall enjoy full protection and security 

and shall in no case be accorded treatment less than that 

required by international law. 

(b) Neither Party shall in any way impair by arbitrary 

and discriminatory measures the management, operation, 

maintenance, use, enjoyment, acquisition, expansion, or 

disposal of investments. For purposes of dispute resolution 

under Articles VI and VII, a measure may be arbitrary and 

discriminatory notwithstanding the fact that a party has had or 

has exercised the opportunity to review such measure through 

recourse to local remedies. 

(c) Investment shall be governed by the laws in force 

in the territory of the Party in which such investment is made, 

except as provided otherwise by this Treaty. 

(d) Each Party shall observe any obligation it may have 

entered into with regard to investments. 
-7-

3. Subject to the laws relating to the entry and sojourn 

of aliens, nationals of either Party shall be permitted to 

enter and to remain in the territory of the other Party for the 

purpose of establishing, developing, administering or advising 

on the operation of an investment to which they, or a company 

of the first Party that employs them, have committed or are in 

.the process of. committing a substantial amount of capital or 

other resources. 

4. Companies which are legally constituted under the 

applicable laws or regulations of one Party, and which are 

investments, shall be permitted to engage top managerial 

personnel of ·their choice, regardless of nationality. 

5. Neither Party shall impose performa~ce requirements as 

a condition of establishment, expansion or maintenance of 

investments, which require or enforce commitments to export 

goods produced, or which specify that goods or services must be 

purchased locally, or which impose any other similar 

requirements. 

- 6. Each Party shall provide effective means of asserting 

claims and enforcing rights with respect to investment, 

investment agreements, and investment authorizations. 

7. Each Party shall make public all laws, regulations, 

administrative practices and procedures, and adjudicatory 

decisions having general application that pertain to or affect 

investments. 
-8-

8. The treatment accorded by the United States of America 

to investments and associated activities of nationals and 

companies of Sri Lanka under the provisions of this Article 

shall in any State, Territory or possession of the United 

States of America be no less favorable than the treatment 

accorded therein to investments and associated activities of 

nationals of the United States of America resident in, and 

companies legally constituted under the laws and regulations of 

other States, Territories or possessions of the United States 

of America. 

9. The most favored nation provisions of this Article 

shall not apply to advantages accorded by either Party to 

nationals or companies of any third country by virtue of: 

(a) that Party's binding obligations that derive from full 

membership in a free trade area or customs union; or 

(b) that Party's binding obligations under any multilateral 

international agreement under the framework of the General 

Agreement on Tariffs and Trade that enters into force 

subsequent to the signature of this Agreement. 
-9-

ARTICLE III 

1. Investments shall not be expropriated or nationalized 

either directly or indirectly through measures tantamount to 

expropriation or nationalization (•expropriation•) except for a 

public purpose: in a nondiscriminatory manner; upon payment of 

prompt, adequate and effective compensation; and in accordance 

with due process of law and the general principles of treatment 

provided for in Article II(2). Compensation shall be 

equivalent to the fair market value of the expropriated 

investment immediately before the expropriatory action was 

taken or became known, whichever is earlier: be paid without 

delay; include interest at a commercial rate from the date of 

expropriation; be fully realizable; and be freely transferable 

at the prevailing market rate of exchange on the date of 

expropriation. 

2. A national or company of either Party that .asserts that 

all or part of its investment has been expropriated shall .have 

a right to prompt review by the appropriate judicial or 

administrative authorities of the other Party to determine 

whether any such expropriation has occurred and, if so, whether 

such expropriation, and any compensation therefor, conforms to 

the principles of international law. 
-10-

3. Nationals or companies of either Party whose 

investments suffer losses in the territory of the other Party 

owing to war or ·other armed conflict, revolution, state of 

national emergency, insurrection, civil· disturbance or other 

similar events shall be accorded treatment by such other Party 

no less favorable. than that accorded to its own nationals or 

companies or to nationals or companies of any third country, 

whichever is the most favorable treatment, as regards any 

measures it adopts in relation to such losses. 

ARTICLE IV 

1. Each Party shall permit all transfers related to an 

investment to be made freely and without delay into and out of 

its territory. Such transfers include: (a) returns; (b) 

compensation pursuant to Article III; (c) payments arising out 

of an investment dispute; (d} payments made under a contract, 

including amortization of principal and accrued interest 

payments made pursuant to a loan agreement; (e) proceeds from 

the sale or liquidation of all or any part of an investment; 

and (f) additional contributions to capital for the maintenance 

or development of an investment. 
-11-

2. Except as provided in Article III paragraph 1, 

transfers shall be made in a freely usable currency at the 

prevailing market rate of exchange on the date of transfer with 

respect to spot· transactions in the currency to be transfe~red. 

3. Notwithstanding the provisions of paragraphs 1 and 2, 

either Party may maintain laws and regulations (a) requiring 

reports of currency -transfer; and (b) imposing income taxes by 

such means as a withholding tax applicable to dividends or 

other transfers. Furthermore, either Party may protect the 

rights of creditors, or ensure the satisfaction of judgments in 

adjudicatory proceedings, through the equitable, 

nondiscriminatory and good faith application of its law. 

ARTICLE V 

The Parties agree to consult promptly, on the request of 

either, to resolve any disputes in connection with the Treaty, 

or to discuss -any matter relating to the interpretation or 

application of the Treaty. 
-12-

ARTICLE VI 

__ 1 •. For. the -purposes of this Article, an investment dispute 

is defined as a dispute involving (a) the interpretation or 

application of an investment agreement between a Party and ·a 

national or company of the other Party: (b) the interpretation 

or application of any investment authorization granted by a 

Party's foreign investment authority to such national or 

company: or (c) an alleged breach of any right conferred or 

created by this Treaty with respect to an investment. 

2. In the event of an investment dispute between a Party 

and a national or company of the other Party, the parties to 

the dispute shall initially seek to resolve the dispute by 

consultation and negotiation, which may include the use of 

non-binding, third party procedures. Subject to Paragraph 3 of 

this Article, if the dispute cannot be resolved through 

consultation and negotiation, the dispute shall be submitted 

for settlement in accordance with previously agreed, applicable 

dispute-settlement procedures: any dispute-settlement 

procedures including those relating to expropriation and 

specified in the investment agreement shall remain binding and 

shall be enforceable in accordance with the terms of the 

investment agreement, relevant provisions of domestic laws, and 

applicable international agreements regarding enforcement of 

arbitral awards. 
-13-

.3._ (a) The . national . or .company concerned may choose to 

consent in writing to the submission of the dispute to the 

International Centre for the Settlement of Investment Disputes 

(•centre•) or to ad hoc arbitration applying the rules of the 

Centre, for the settlement by conciliation or binding 

arbitration, at any time after six months from the date upon 

which the dispute arose. Once the national or ·company 

concerned has so consented, either party to the dispute may 

institute such proceedings provided: 

(i) the dispute has not been submitted by the national 

or company for resolution in accordance with any 

applicable previously agreed dispute settlement 

procedures; and 

(ii) the national or company concerned has not brought 

the dispute before the courts of justice or 

administrative tribunals or agencies of competent 

jurisdiction of the Party that is a party to the 

dispute. 

If the parties disagree over whether conciliation or binding 

arbitration is the more appropriate procedure to be employed, 

the opinion of the national or company concerned shall prevail. 
-14-

{b) Each Party hereby consents to the submission of an 

investment dispute to the Centre for settlement by conciliation 

or binding arbitration, or, in the event the Centre is not 

available, to the submission of the dispute to ad hoc 

arbitration applying the rules of the Centre. 

(c) Conciliation or binding arbitration of such disputes 

shall be done applying the provisions of the Convention on the 

Settlement of Investment Disputes Between States and Nationals 

of Other States done at Washington, March 18, 1965 

(•convention•) and the Regulations and Rules of the Centre. 

4. In any proceeding involving an investment dispute, a 

Party shall not assert, as a defense, counter-claim, right of 

set-off or otherwise, that the national or company concerned 

has received or will receive, pursuant to an insurance or 

guarantee contract, indemnification or other compensation for 

all or part of its alleged damages. 

5. For the purposes of this Article, any company legally 

constituted under the applicable laws and regulations of either 

Party or a political subdivision thereof but that, immediately 

before the occurence of the event or events giving rise to the 

dispute, was an investment of nationals or companies of the 

other Party, shall, in accordance with Article 25 (2) (b) of 

the Convention, be treated as a national or company of such 

other Party. 
-15-

ARTICLE VII 

1. Any dispute between the Parties concerning the 

interpretation or application of the Treaty which is not 

resolved through consultations or other diplomatic channels, 

shall be submitted, upon the request of either Party, to an 

-

arbitral tribunal for binding decision in accordance with the 

applicable rules of international law. In the absence of an 

agreement by the Parties to the contrary, the arbitration rules 

of the United Nations Commission -on -International Trade Law 

(UNCITRAL), except to the extent modified by the Parties or by 

the arbitrators, shall govern. 

2. Within two months of receipt of a request, each Party 

shall appoint an arbitrator. The two arbitrators shall select 

a third _arbit~ator as Chairman, who is a national of a third 

State. The UNCITRAL Rules for appointing members of three 

member panels shall apply mutatis mutandis to the appointment 

of the arbitral panel except that the appointing authority 

referenced in those rules shall be the Secretary General of the 

Centre. 
-16-

3. Unless otherwise agreed, all submissions shall be made 

and all hearings shall be completed within six months of the 

date of selection of the third arbitrator, and the Tribunal 

shall render its decisions within two months of the date of the 

final submissions or the date of the closing of the hearings, 

whichever is later. 

4. Expenses incurred by the Chairman, the other 

arbitrators, and other costs of the proceedings shall be paid 

for equally by the Parties. The Tribunal may, however, at its 

..discretion, direct that a higher proportion of the costs be 

paid by one of the Parties. 

ARTICLE VIII 

The provisions of Article VI and VII shall not apply to a 

dispute arising (a) under the export credit, guarantee or 

insurance programs of the Export-Import Bank of the United 

States, or (b) under other official credit, guarantee or 

insurance arrangements pursuant to which the Parties have 

agreed to other means of settling disputes. 
-17-

ARTICLE IX 

This Treaty shall not derogate from: 

(a) laws and regulations, administrative practices or 

procedures, or administrative or adjudicatory · 

decisions of either Party; 

(b) international legal obligations; or 

(c) obligations assumed by either Party, including 

those contained in an investment agreement or an 

investment authorization, 

that entitle investments or associated activities to treatment 

more favorable than that accorded by this Treaty in like 

situations. 

ARTICLE X 

1. This Treaty shall not preclude the application by 

either Party of measures necessary for the maintenance of 

public order, the fulfillment of its obligations with respect 

to the maintenance or restoration of international peace or 

security, or the protection of its own essential security 

interests. 
-18-

2. This Treaty shall not preclude either Party from 

prescribing special formalities in connection with the 

establishment of investments, but such formalities shall not 

impair the substance of any of the rights set forth in this 

Treaty. 

ARTICLE XI 

1. With respect to its tax policies, each Party shall 

strive to accord fairness and equity in the treatment of 

investment of nationals and companies of the other Party. 

2. Nevertheless, the provisions of this Treaty, and in 

particular Article VI and VII, shall apply to matters of 

taxation only with respect to the following: 

(a) expropriation, pursuant to Article III; 

(b) transfers, pursuant to Article IV; or 

(c) the observance and enforcement of terms of an 

investment agreement or authorization as referred 

to in Article VI (1) (a) or (b), 

to the extent they are not subject to the dispute settlement 

provisions of a convention for the avoidance of double taxation 

between the two Parties or have been raised under such 

settlement provisions and are not resolved under the convention 

within a reasonable period of time. 
-19-

ARTICLE XII 

This Treaty shall apply to the political subdivisions of the 

Parties. 

ARTICLE XIII 

1. This Treaty shall enter into force thirty days after 

the date of exchange of instruments of ratification. It shall 

remain in force for a period of ten years and shall continue in 

force unless terminated in accordance with paragraph 2 of this 

Article. It shall apply to investments existing at the time of 

entry into force as well as to investments made or acquired 

thereafter. 

2. Either Party may, by giving one year's written notice 

to the other Party, terminate this Treaty at the end of the 

initial ten year period or at any time thereafter. 

3. With respect to investments made or acquired prior to 

the date of termination of this Treaty and to which this Treaty 

otherwise applies, the provisions of all of the other Articles 

of this Treaty shall thereafter continue to be effective for a 

further period of ten years from such date of termination. 
4. The Annex, Protocol, and related letters exchanged this 

day on investments in personal services and small-scale retail 

trade in Sri Lanka shall form an integral part of the Treaty. 

IN WITNESS WHEREOF, the respective plenipotentiaries have 

signed this Treaty. 

DONE in duplicate at Colombo on the 

Twentieth day of September , 1991 in 

the English and Sinhala languages, both texts being equally 

authentic. 

FOR THE UNITED STATES FOR THE DEMOCRATIC 

OF AMERICA: SOCIALIST REPUBLIC OF 

SRI LANKA: 
ANNEX 

1. The United States reserves the right to make or 

maintain limited exceptions to national treatment, as provided 

in Article II, paragraph 1, in the sectors or matters it has 

indicated below: 

air transportation; ocean and coastal shipping; banking; 

insurance; government grants; government insurance and loan 

programs; energy and power production; custom house 

brokers; ownership of real property; ownership and 

operation of broadcast or common carrier radio and 

television stations; ownership of shares in the 

Communications Satellite Corporation; the provision of 

common carrier telephone and telegraph services; the 

provision of submarine cable services; use of land and 

natural resources; mining on the public domain; maritime 

services and maritime-related services; and primary 

dealership in United States government securities. 

2. The United States reserves the right to make or 

maintain limited exceptions to most favored nation treatment, 

as provided in Article II, paragraph 1, in the sectors or 

matters it has indicated below: 
-2-

ownership of real property; mining on the public domain; 

maritime-related services; and primary dealership in United 

States government securities. 

3. Sri Lanka reserves the right to make or maintain 

limited exceptions to national treatment, as provided in 

Article II, paragraph 1, in the sectors or matters it has 

indicated below: 

air transportation; ocean and coastal shipping; banking and 

small-scale money-lending; insurance; government grants and 

loan programs; finance companies; production and 

distribution of energy and power; stock brokering; customs 

house brokering; ownership and operation of broadcast or 

common carrier radio and television stations; post and 

telecommunications including sub-marine cable services; 

publishing of newspapers and periodicals; exploitation of 

natural resources; ownership of real estate; 

maritime-related services; dealings in government 

securities; pawn brokering; lotteries; fishing; travel 

agencies; mass transportation; supply of water; allocation 

of textile and apparel export quotas; education; growing of 

plantation crops and rice and spices. 
-3-

4. Sri Lanka reserves the right to make or maintain limited 

exceptions to most favored nation treatment, as provided in 

Article II, paragraph 1, in the sectors or matters it has 

indicated below: 

ownership, use and dealings in land and real property: 

exploitation of non-renewable natural resources: 

maritime-related services: dealings in government 

securities. 
PROTOCOL 

1. With respect to Article I, paragraph !(iv), at present 

Sri Lanka does not have any legislation providing protection 

for semiconductor mask works as intellectual property. 

2. With respect to Article II, paragraph 2(a), the Parties 

agree that the phrase •full protection and security• shall be 

construed according to its common usage under international law. 

3. With respect to Article II, paragraph 3, the phrase 

•1aws relating to the entry and sojourn of aliens• shall be 

understood to include relevant regulations and other 

administrative procedures of a Party. 

4. With respect to the treatment of investment under 

Article II, the Parties note that Sri Lanka has laws and 

regulations providing certain incentives to nationals and 

companies which export or which contribute new technology. 

Each Party agrees to consult with the other upon request 

concerning any adverse effects arising from such laws and 

regulations, with a view to eliminating any such effects. 
-2-

s. With respect to Article III, paragraph 1, the phrase 

•become known• is intended to refer to any knowledge resulting 

in the diminution of the fair market value of the investment. 

6. With respect to Article IV, paragraph l(e), a Party 

may, in the event of exceptional balance of payments 

difficulties and in consultation with the other Party, 

temporarily delay transfer of the proceeds from the sale or 

liquidation of an investment, but only on the following 

' 

1, conditions: I 

(a) the transfer of such proceeds may be delayed for a 

period not to exceed three years from the date the transfer is 

requested; 

(b) a minimum of thirty-three and one-third percent of the 

proceeds may be transferred each year; 

(c) the Party availing itself of this provision shall 

ensure that the portion of the proceeds whose transfer is 

delayed can be invested in a manner that will preserve its real 

value free of exchange rate risk; 

(d) this provision will b~ used only to the extent and for 

the time necessary to restore foreign exchange reserves to a 

minimally acceptable level; and 

(e) the Party availing itself of this provision will ensure 

that investments under this Treaty are accorded treatment with 

respect to such transfers in a manner not less favorable than 
i 

-3-

that accorded nationals or companies of third countries. 

7. With reference to Sri Lanka's exception to the 

principle of national treatment for the •allocation of textile 

and apparel export quotas• in paragraph three of the Annex,. Sri 

Lanka affirms that, should a textile or apparel item become 

subject to a bilateral export quota subsequent to the entry 

into force of this Treaty, the allocation of the export quota 

for that item would be considered a •future exception• within 

the meaning of Article II.l, and that accordingly the exception 

would not apply to investments producing that item at the time 

the exception became effective. 
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c,o~a,(!i:i, ~~ f!)cao q•= } Jl/j•oril.,# Q,111ama,t } 20436 LUJ-' {ia,. PRIVATE SECRETARY Your No. 

=:x.,!:>c(.)/Jte,,ou.,,ib/Office : 4 3 3 9 3 7, 4 3 5 8 6 0, 4 2 1 2 5 1 

15Di,ol:1fd } Qr,Q..,,86 2 1 4 0 9 CE } 449823 Telex 

®en e(!~ ~JC(.), '5i:l):>£iil I ~<:e qi)a>1S)o~c.j ~ll)(.)

Q,111..,•tb , Q•n(!J>ll>1 ..1 I .,• ., } Septeni:le.r:. 2J.,.1991. 

~~ JIA>ID#& The Secretariat, Colombo 1 Date 

MINISTRY OF FINANCE 

H.E. Marion V. Creekmore,Jr., 

Ambassador of the United States of America, 

Embassy of the United States of America, 

Colombo. 

Dear Ambassador Creekmore, 

I have the honour to confirm on behalf of 

my Government the following understanding reached between the 

delegations of the Democratic Socialist Republic of Sri Lankc 

and the United States of America in the course of negotiatins 

the Treaty concerning the Encouragement and Reciprocal 

Protection of Investment (the "Treaty"), signed this day. 

The Government of Sri Lanka welcomes 

investments by nationals and companies of the United States 

in accordance with the Treaty. However, the Government of 

Sri Lanka is concerned about investment in the personal service 

and small-scale retail sectors in Sri Lanka. It may,therefore, 

request consultations in accordance with Article V of the 

Treaty about investment in these sectors, should the need 

arise. 

I would be grateful if you would confirm 

that this understanding is shared by your Government. 

Sincerely, 

R. ~!tali~ 

Secn/5-ary 

Min~ance 
Embas.~r of the United States </ America 

Colombo, Sri Lanka 

September 20, 1991 

Mr. R. Paskaralingam 

Secretary 

Ministry of Finance 

Colombo 1 

Dear Mr. Paskaralingam: 

I have the honor to refer to your letter of this date and 

to confirm the following understanding reached between the 

delegation of the Democratic Socialist Republic of Sri Lanka 

and the United States of America in the course of negotiating 

the treaty concerning the encouragement and reciprocal 

portection of investment (the "Treaty"), signed this day: 

"The Government of Sri Lanka welcomes investments by 

nationals and companies of the United States in accordance 

with the Treaty. However, the Government of Sri Lanka is 

concerned about investment in the personal service and 

small-scale retail sectors in Sri Lanka. rt may, therefore, 

wish to request consultations in accordance with Article V of 

the treaty about investment in these sectors should the need 

arise." 

SincerJlY, 

;JLJ/~fl

Mclrion v. Creekmore, Jr. 

Ambassador of the United 

States of America