21 May 2010

Sri Lanka Pakistan Trade Doubles due to FTA

21st May 2010, www.dailynews.lk

Pakistan is the second largest trading partner of Sri Lanka within the South Asian region. Sri Lanka is the first country to sign a Free Trade Agreement (FTA) with Pakistan.

Bilateral trade between the two countries has doubled within a short period of time from US$ 150 million to US$ 300 million during the last three years, which is a direct outcome FTA, which is operational since 2005. Recently a 27-member Pakistan-Sri Lanka Business Forum (PSLBF) delegation led by Abdul Rauf Tabani, visited Sri Lanka.

They participated in the INTRAD-EXPO 2010, organized by the National Chamber of Commerce, Sri Lanka.

They were accompanied by Consul General of Sri Lanka in Karachi V. Sidath Kumar. This was the third business delegation of the PSLBF in as many years. The business delegation also explored opportunities for investments and joint ventures in Sri Lanka.

The delegation consisted of Heads/CEOs of leading Pakistani companies in textiles, fertilizer, sugar industry, service industry, IT, fresh fruits and vegetables, manufacturing, pharmaceuticals, leisure and tourism, construction, light engineering goods, rice, apparel, gems/jewellery, sports goods and commodities sectors. The delegation also participated in an investment conference arranged by the National Chamber of Commerce.

Meetings were also held with BOI the Chairman and Sri Lanka Export Development Board Chairman. The meetings focused on increasing the volume of bilateral trade between the two countries.

Image: Economic Development Minister Basil Rajapaksa with the Pakistan business delegation.

Related Info :

Pakistan - Sri Lanka FTA (PSFTA)- Detailed Information - The Board of Investment of Sri Lanka (BOI)

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