Indo-Sri Lanka FTA (ISFTA)
• Detailed Information - from the official website of The Board of Investment of Sri Lanka (BOI)
• More info from the official website of Department of Commerce (See under Information/Trade Agreements)
Pakistan-Sri Lanka FTA (PSFTA)
• Detailed Information - from the official website of The Board of Investment of Sri Lanka (BOI)
• More info from the official website of Department of Commerce (See under Information/Trade Agreements)
South Asian Free Trade Area (SAFTA)
• Detailed Information - from the official website of The Board of Investment of Sri Lanka (BOI)
• More info from the official website of Department of Commerce (See under Information/Trade Agreements)
Asia– Pacific Trade Agreement (APTA) - Formerly the Bangkok Agreement
• Detailed Information - from the official website of The Board of Investment of Sri Lanka (BOI)
• More info from the official website of Department of Commerce (See under Information/Trade Agreements)
Showing posts with label FTA. Show all posts
Showing posts with label FTA. Show all posts
12 February 2012
10 January 2012
Indo Lanka Trade Up by 72pct. Free Trade Agreement (FTA) Covers only 30pct of the Trade
10th January 2012, www.dailymirror.lk, By Kelum Bandara
The volume of bilateral trade between Sri Lanka and India during the first eleven months of last year had reached US$4.46 billion, an increase of 71.94 per cent when compared with the corresponding period of the previous year, an official said yesterday quoting Sri Lanka Customs data.But of this India’s exports to Sri Lanka amounted to US$3.97 billion. During this period, Sri Lanka’s exports had grown by 15 per cent while India’s exports had grown by 85 per cent.
He said 70 per cent of trade between the two countries took place outside the Free Trade Agreement (FTA).
“This means that this percentage takes place outside the duty-free tariff regime. Sri Lanka imports numerous items from India because it is competitive,” the official said.Meanwhile, Commerce and Industries Minister Rishad Bathiudeen will attend the Partnership Summit in Hyderabad from January 11 to 13. On the sidelines of the summit, the minister is expected to interact with his Indian counterpart and hold bilateral talks trade between the two countries.
Indo-Lanka talks continue to be held from time to time on the Comprehensive Economic Partnership Agreement (CEPA) which is still to be signed.
Related Info :
• Indo-Sri Lanka FTA (ISFTA) - Detailed Information - The Board of Investment of Sri Lanka (BOI)
• Sri Lanka to Renegotiate CEPA, Comprehensive Economic Partnership Agreement with India
21 February 2011
PIA Starts Flights to Colombo after a Four Year Absence. Relaunch Coincides with the 10th ICC Cricket World Cup
21st February 2011, www.ft.lk
After a four year absence, Pakistan International Airlines (PIA) yesterday resumed its services to Colombo, with Sri Lanka’s capital served thrice a week from Karachchi. The re-launch also coincides with the commencement of the 10th ICC Cricket World Cup hosted by Sri Lanka, India and Bangladesh.
Cricket is a uniting force in both Pakistan and Sri Lanka, lands known for their deep divisions and fissures. Attendance in offices and schools becomes thin in Pakistan and Sri Lanka when their teams are playing in the World Cup.
Pakistan is in Group A in the 10th Cricket World Cup along with the likes of mighty Australia, Sri Lanka, and New Zealand and will play all of its 6 League Matches in Sri Lanka. Pakistan and Sri Lanka will play on 26 February in Colombo.
Sri Lanka will be hosting 12 of the 49 matches in this World-Cup including the fourth quarter final on 26 March 2011 and the first semi-final on 29 March 2011. Both these matches will be held at R. Premadasa Stadium in Colombo.
To make the new services a success, PIA has also launched a special promotion to encourage Pakistanis to fly into Colombo to witness the World Cup matches.
The features of the special PIA World Cup travel package include complimentary airport pick and drop; complimentary stadium pick & drop on match days; accommodation twin sharing bases with bread & breakfast; air-conditioned transport during tours; and city and resort tours with English speaking tour guides.
PIA had also promoted the new service extensively in Pakistan.
The airline also expects to serve large numbers of Sri Lankans who work in the oil-rich Middle Eastern countries, especially blue collar workers. These three new PIA weekly flights to Sri Lanka will serve them also, as cost of travelling home from PIA through Karachi is cheaper than taking a direct flight to Sri Lanka.
Sri Lanka and Pakistan also enjoys strong bilateral trade relations with a Free Trade Agreement signed between the two countries. Sri Lanka supplies more than three-fourths of the ingredients in the paan consumed in Pakistan. Paan is a very popular edible item in Pakistan and these new PIA flights to Sri Lanka will deeply facilitate the brisk trade in this item. Pakistan is also home to the remains of the greatest Buddhist civilisation, the Gandhara Civilisation.
A brainchild of founder of the nation Quaid-e-Azam Mohammad Ali Jinnah, PIA or Pakistan International Airlines had had many glorious achievements to its credit in its more than 50 years of existence.
It was the first Asian airline to introduce a pure jet aircraft. In 1962, PIA broke the record for the fastest flight between London and Karachi. In 1964, PIA earned the distinction of becoming the first airline from a non-communist country to fly into the People’s Republic of China. It was the first entity in Pakistan to install an IBM1401 computer in 1966-67.
PIA was the first airline in the world to operate a scheduled helicopter service as well to start an air safari with jet aircraft in 1993-94. PIA was the launch customer of the latest Boeing 777-200LR aircraft and first airline in the world to operate the Boeing 777-200ER, 777-200LR and 777-300ER altogether – all the three variants available on the market at the time.
Most important are the contributions of PIA to the global aviation industry. The birth of Emirates Airline was almost entirely in the mid 1980s. It was PIA which provided a B-737 and an Airbus aircraft for Emirates’ initial flights. The cabin, cockpit and scheduling crews were all borrowed from PIA. Similarly, PIA provided extensive help in the inauguration of Singapore Airlines and Air Malta.
The above are just some of the few glorious achievements of PIA. However, PIA never had it as good as today, thanks to the sterling sales performance in 2010.
The last year has been a glorious year for PIA, as it has crossed the revenue figure of Rs. 100 billion for the first time in its history. The airline realised a combined seat factor on its domestic and international routes which is the highest in the last 34 years. The revenue target set for 2011 is Rs. 133 billion, which is 22% higher than 2010 sales revenues.
Related Info :
• Pakistan-Sri Lanka FTA (PSFTA) - Detailed Information - The Board of Investment of Sri Lanka (BOI)
After a four year absence, Pakistan International Airlines (PIA) yesterday resumed its services to Colombo, with Sri Lanka’s capital served thrice a week from Karachchi. The re-launch also coincides with the commencement of the 10th ICC Cricket World Cup hosted by Sri Lanka, India and Bangladesh.
Cricket is a uniting force in both Pakistan and Sri Lanka, lands known for their deep divisions and fissures. Attendance in offices and schools becomes thin in Pakistan and Sri Lanka when their teams are playing in the World Cup.
Pakistan is in Group A in the 10th Cricket World Cup along with the likes of mighty Australia, Sri Lanka, and New Zealand and will play all of its 6 League Matches in Sri Lanka. Pakistan and Sri Lanka will play on 26 February in Colombo.Sri Lanka will be hosting 12 of the 49 matches in this World-Cup including the fourth quarter final on 26 March 2011 and the first semi-final on 29 March 2011. Both these matches will be held at R. Premadasa Stadium in Colombo.
To make the new services a success, PIA has also launched a special promotion to encourage Pakistanis to fly into Colombo to witness the World Cup matches.The features of the special PIA World Cup travel package include complimentary airport pick and drop; complimentary stadium pick & drop on match days; accommodation twin sharing bases with bread & breakfast; air-conditioned transport during tours; and city and resort tours with English speaking tour guides.
PIA had also promoted the new service extensively in Pakistan.The airline also expects to serve large numbers of Sri Lankans who work in the oil-rich Middle Eastern countries, especially blue collar workers. These three new PIA weekly flights to Sri Lanka will serve them also, as cost of travelling home from PIA through Karachi is cheaper than taking a direct flight to Sri Lanka.
Sri Lanka and Pakistan also enjoys strong bilateral trade relations with a Free Trade Agreement signed between the two countries. Sri Lanka supplies more than three-fourths of the ingredients in the paan consumed in Pakistan. Paan is a very popular edible item in Pakistan and these new PIA flights to Sri Lanka will deeply facilitate the brisk trade in this item. Pakistan is also home to the remains of the greatest Buddhist civilisation, the Gandhara Civilisation.
A brainchild of founder of the nation Quaid-e-Azam Mohammad Ali Jinnah, PIA or Pakistan International Airlines had had many glorious achievements to its credit in its more than 50 years of existence.It was the first Asian airline to introduce a pure jet aircraft. In 1962, PIA broke the record for the fastest flight between London and Karachi. In 1964, PIA earned the distinction of becoming the first airline from a non-communist country to fly into the People’s Republic of China. It was the first entity in Pakistan to install an IBM1401 computer in 1966-67.
PIA was the first airline in the world to operate a scheduled helicopter service as well to start an air safari with jet aircraft in 1993-94. PIA was the launch customer of the latest Boeing 777-200LR aircraft and first airline in the world to operate the Boeing 777-200ER, 777-200LR and 777-300ER altogether – all the three variants available on the market at the time.
Most important are the contributions of PIA to the global aviation industry. The birth of Emirates Airline was almost entirely in the mid 1980s. It was PIA which provided a B-737 and an Airbus aircraft for Emirates’ initial flights. The cabin, cockpit and scheduling crews were all borrowed from PIA. Similarly, PIA provided extensive help in the inauguration of Singapore Airlines and Air Malta.
The above are just some of the few glorious achievements of PIA. However, PIA never had it as good as today, thanks to the sterling sales performance in 2010.
The last year has been a glorious year for PIA, as it has crossed the revenue figure of Rs. 100 billion for the first time in its history. The airline realised a combined seat factor on its domestic and international routes which is the highest in the last 34 years. The revenue target set for 2011 is Rs. 133 billion, which is 22% higher than 2010 sales revenues.
Related Info :
• Pakistan-Sri Lanka FTA (PSFTA) - Detailed Information - The Board of Investment of Sri Lanka (BOI)
02 October 2010
Local Currency for India-Sri Lanka Trade Mooted
01st October 2010, www.lankabusinessonline.com
Using local currencies to trade between India and Sri Lanka could reduce transactio
n costs and speed up cargo movements, an expert has suggested.
Somi Hazari, former president of the India-ASEAN-Sri Lanka Chamber of Commerce & Industry, said delays in clearing cargo could have serious repercussions for traders.
Indo-Lanka trade continues to be in US dollars which is one of the reasons for high transaction cost, he told a seminar on trade facilitation issues related to the India – Sri Lanka free trade deal.
It was organized by Institute of Policy Studies of Sri Lanka and UNDP Asia-Pacific Regional Centre, Bangkok.
Hazari said exporters and importers have to channel their transactions in US dollars through correspondent banks in New York.
This adds to the cost of trade for companies in both India and Sri Lanka..
He suggested the two central banks of both countries work together on a basket of currencies made up of Sri Lankan and Indian rupees.
"This could lead to win-win situation for both sides and bring down transaction cost and the time taken."
Under British rule the Indian rupee, then specie based - was widely used in the Middle East and even Africa. Sri Lanka's own rupee was pegged to the Indian rupee through a currency board.
Even after the creation of the Reserve Bank of India as a private corporation the rupee held its value.
But after independence the rupee lost its value as the monetary system was mis-used to finance deficit budgets after it became a state-run entity. Middle Eastern countries swiftly dumped the Indian rupee and formed their own national currencies.
The Indian rupee started gaining strength after 1991 when a balance of payment crisis changed the country's monetary policy.
The finance ministry secretary stopped participating in the monetary policy meetings and obligatory deficit financing through printing money ended.
"RBI had become like a cookie jar, where the government, as and when they wanted, could just dip into the cookie jar and take what they wanted," Narendra Jadhav, then principal advisor and chief cconomist of the Reserve Bank of India, told a seminar in Colombo in 2006.
"But in 1993, there was a contract signed between RBI and the Ministry of Finance, which paved the way for the elimination of this automatic monetization.
"Over a 4 year period we eliminated the automatic monetization of the deficit."
Related Info :
• Indo-Sri Lanka FTA (ISFTA) - Detailed Information - The Board of Investment of Sri Lanka (BOI)
Using local currencies to trade between India and Sri Lanka could reduce transactio
n costs and speed up cargo movements, an expert has suggested.Somi Hazari, former president of the India-ASEAN-Sri Lanka Chamber of Commerce & Industry, said delays in clearing cargo could have serious repercussions for traders.
Indo-Lanka trade continues to be in US dollars which is one of the reasons for high transaction cost, he told a seminar on trade facilitation issues related to the India – Sri Lanka free trade deal.
It was organized by Institute of Policy Studies of Sri Lanka and UNDP Asia-Pacific Regional Centre, Bangkok.
Hazari said exporters and importers have to channel their transactions in US dollars through correspondent banks in New York.
This adds to the cost of trade for companies in both India and Sri Lanka..
He suggested the two central banks of both countries work together on a basket of currencies made up of Sri Lankan and Indian rupees.
"This could lead to win-win situation for both sides and bring down transaction cost and the time taken."
Under British rule the Indian rupee, then specie based - was widely used in the Middle East and even Africa. Sri Lanka's own rupee was pegged to the Indian rupee through a currency board.
Even after the creation of the Reserve Bank of India as a private corporation the rupee held its value.
But after independence the rupee lost its value as the monetary system was mis-used to finance deficit budgets after it became a state-run entity. Middle Eastern countries swiftly dumped the Indian rupee and formed their own national currencies.
The Indian rupee started gaining strength after 1991 when a balance of payment crisis changed the country's monetary policy.
The finance ministry secretary stopped participating in the monetary policy meetings and obligatory deficit financing through printing money ended.
"RBI had become like a cookie jar, where the government, as and when they wanted, could just dip into the cookie jar and take what they wanted," Narendra Jadhav, then principal advisor and chief cconomist of the Reserve Bank of India, told a seminar in Colombo in 2006.
"But in 1993, there was a contract signed between RBI and the Ministry of Finance, which paved the way for the elimination of this automatic monetization.
"Over a 4 year period we eliminated the automatic monetization of the deficit."
Related Info :
• Indo-Sri Lanka FTA (ISFTA) - Detailed Information - The Board of Investment of Sri Lanka (BOI)
25 September 2010
Sri Lanka Exports to India increased by 45pct to an All Time High Record
24th September 2010, www.news.lk
Sri Lanka’s exports to India have increased by 45 % during the first seven months of this year, Indi
an High Commissioner Ashok K. Kantha said revealed at a luncheon meeting with local media heads, the Indian High Commissioner has also said that there has been a significant increase in trade between the two countries following implementation of Free Trade Agreement between the two countries.
According to reports Sri Lanka’s exports to India have increased by 45% during the first seven months and India’s exports to Sri Lanka have also increased by 41%. If the current trend continues, 2010 will be an all time high record in trade relations between the two countries.
Related Info:
• Sri Lanka Exports to India up 10 fold as Indo-Lanka Free Trade Agreement Marks 10 Yrs
• Indo-Sri Lanka FTA - Detailed Information - The Board of Investment of Sri Lanka (BOI)
Sri Lanka’s exports to India have increased by 45 % during the first seven months of this year, Indi
an High Commissioner Ashok K. Kantha said revealed at a luncheon meeting with local media heads, the Indian High Commissioner has also said that there has been a significant increase in trade between the two countries following implementation of Free Trade Agreement between the two countries.According to reports Sri Lanka’s exports to India have increased by 45% during the first seven months and India’s exports to Sri Lanka have also increased by 41%. If the current trend continues, 2010 will be an all time high record in trade relations between the two countries.
Related Info:
• Sri Lanka Exports to India up 10 fold as Indo-Lanka Free Trade Agreement Marks 10 Yrs
• Indo-Sri Lanka FTA - Detailed Information - The Board of Investment of Sri Lanka (BOI)
26 May 2010
Sri Lanka Tea, Apparel Exports to India Rise after Removal of FTP Controls
25th May 2010, www.lankabusinessonline.com
Sri Lanka's exports of tea and apparel to India rose sharply in 2009 as impediments in a free trade deal between the two neighbours were removed, an Indian diplomat said.
Overall trade between the two countries is also recovering from recession in the first part of this year, said Vikram Misri, Indian deputy high commissioner in Colombo.
Tea and apparel, the island's main agricultural and industrial exports, had faced quota restrictions under the Indo-Lanka free trade agreement signed a decade ago which raised doubts about the trade deal among the island's business community.
"With regard to the quotas, they have been liberalized consistently in a way that Sri Lanka is allowed to self-administer them and they seem to have begun to have a positive impact as can be seen in a 136 percent growth in the export of tea and about 35 percent increase in the export of garments in 2009, both items where quotas exist," said Misri.
"This is happening in a year when there has been an overall decline of 21.53 percent in Sri Lankan exports to India."
With regard to other restrictions, Misri told a seminar on the FTA that there are no Sri Lanka-specific port entry restrictions in India.
Also, a condition of import of fabrics to use the garment quota has been done away with.
"India has also expressed its readiness to implement the “garment model” for the administration of the pepper quota, which is expected to be signed shortly," Misri said.
"Most of the implementation issues that have created this so-called “perception” about the FTA have been resolved and others pertaining to NTBs can be resolved if there is will on the Sri Lankan side to move forward with already negotiated frameworks."
Bilaterally, the FTA has led to the emergence of a "vibrant" economic relationship and a "quantum jump" in trade, investment and economic cooperation between India and Sri Lanka, Misri said.
"Within two years of its coming into force, we saw a doubling of our trade turnover. In another three years, that is, by 2005, we doubled the trade turnover again. Between 2000 and 2008, the turnover grew five times."
The trend would have continued in 2009 if not for the global economic crisis.
"It should be a cause for satisfaction that early figures for 2010 are already showing a strong revival of trade between the two countries, which only goes to validate the path we are embarked upon."
Misri also said that in the past India and Sri Lanka had been more interdependent than they are now even with a modern free trade arrangement.
"Even as recently as 1938, India accounted for 42.5 percent of Sri Lanka’s imports while in 2008, even with an FTA in place, Indian exports to Sri Lanka were only about 20 percent of Sri Lanka’s global imports."
Related Info :
• Indo-Sri Lanka FTA (ISFTA) - Detailed Information - The Board of Investment of Sri Lanka (BOI)
Sri Lanka's exports of tea and apparel to India rose sharply in 2009 as impediments in a free trade deal between the two neighbours were removed, an Indian diplomat said.
Overall trade between the two countries is also recovering from recession in the first part of this year, said Vikram Misri, Indian deputy high commissioner in Colombo.
Tea and apparel, the island's main agricultural and industrial exports, had faced quota restrictions under the Indo-Lanka free trade agreement signed a decade ago which raised doubts about the trade deal among the island's business community.
"With regard to the quotas, they have been liberalized consistently in a way that Sri Lanka is allowed to self-administer them and they seem to have begun to have a positive impact as can be seen in a 136 percent growth in the export of tea and about 35 percent increase in the export of garments in 2009, both items where quotas exist," said Misri.
"This is happening in a year when there has been an overall decline of 21.53 percent in Sri Lankan exports to India."
With regard to other restrictions, Misri told a seminar on the FTA that there are no Sri Lanka-specific port entry restrictions in India.
Also, a condition of import of fabrics to use the garment quota has been done away with.
"India has also expressed its readiness to implement the “garment model” for the administration of the pepper quota, which is expected to be signed shortly," Misri said.
"Most of the implementation issues that have created this so-called “perception” about the FTA have been resolved and others pertaining to NTBs can be resolved if there is will on the Sri Lankan side to move forward with already negotiated frameworks."
Bilaterally, the FTA has led to the emergence of a "vibrant" economic relationship and a "quantum jump" in trade, investment and economic cooperation between India and Sri Lanka, Misri said.
"Within two years of its coming into force, we saw a doubling of our trade turnover. In another three years, that is, by 2005, we doubled the trade turnover again. Between 2000 and 2008, the turnover grew five times."
The trend would have continued in 2009 if not for the global economic crisis.
"It should be a cause for satisfaction that early figures for 2010 are already showing a strong revival of trade between the two countries, which only goes to validate the path we are embarked upon."
Misri also said that in the past India and Sri Lanka had been more interdependent than they are now even with a modern free trade arrangement.
"Even as recently as 1938, India accounted for 42.5 percent of Sri Lanka’s imports while in 2008, even with an FTA in place, Indian exports to Sri Lanka were only about 20 percent of Sri Lanka’s global imports."
Related Info :
• Indo-Sri Lanka FTA (ISFTA) - Detailed Information - The Board of Investment of Sri Lanka (BOI)
21 May 2010
Sri Lanka Pakistan Trade Doubles due to FTA
21st May 2010, www.dailynews.lk
Pakistan is the second largest t
rading 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)
Pakistan is the second largest t
rading 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)
02 September 2009
Sri Lanka President Meets Pakistan Prime Minister
01st September 2009, www.colombopage.com
Tripoli: Sri Lanka President Mahinda Rajapaksa and Pakistan Prime Minister Syed Yusuf Raza Gilani on Tuesday agreed to further strengthen the bilateral relations between the two countries when they met in the Libyan capital.
The two leaders who are in Tripoli to participate in the 40th anniversary of A
l-Fateh Revolution of Libya discussed ways to strengthen cooperation in various fields including trade, education, pharmaceuticals, engineering, railways, diplomatic training and defense.
President Rajapaksa and the Prime Minister Gilani noting the enhanced trade between the two countries after signing the Free Trade Agreement agreed to expand the FTA to include services and investment.
Sri Lanka was the first to sign a FTA with Pakistan and Pakistan is the second largest trading partner of Sri Lanka within the South Asian region.
The two leaders also discussed increasing the cooperation in air travel between the two countries. President Rajapaksa sought to restart the flight operations of the Pakistan's state-run airline, PIA while the Premier said Pakistan's largest private airline, Air Blue will start flights to Colombo.
During his visit to Colombo for the Regional Cooperation Development meeting in October, Pakistani Foreign Minister is expected to meet the Sri Lankan Aviation Minister to further discuss the air travel arrangements.
To enhance cooperation in education, the two leaders alos agreed to offer post-graduate scholarships to the students of each other's countries on a reciprocal basis.
Prime Minister Gilani congratulated President Rajapaksa on the successful end of war in Sri Lanka and sharing the Pakistan's experience in resettling refugees discussed the Sri Lanka government's resettlement efforts of the IDPs in the North.
President Mahinda Rajapaksa has accepted an invitation extended by the Prime Minister for an official visit to Pakistan.
Pakistan has been a major ally of Sri Lanka in its war against the Tamil rebels supplying high tech military equipment to the Sri Lankan army and training its armed forces. Sri Lanka is a major buyer of Pakistani defense equipments and products.
(Pictures by Sudath Silva)
Related Info :
• Pakistan-Sri Lanka FTA (PSFTA) - Detailed Information - The Board of Investment of Sri Lanka (BOI)
Tripoli: Sri Lanka President Mahinda Rajapaksa and Pakistan Prime Minister Syed Yusuf Raza Gilani on Tuesday agreed to further strengthen the bilateral relations between the two countries when they met in the Libyan capital.
The two leaders who are in Tripoli to participate in the 40th anniversary of A
l-Fateh Revolution of Libya discussed ways to strengthen cooperation in various fields including trade, education, pharmaceuticals, engineering, railways, diplomatic training and defense.President Rajapaksa and the Prime Minister Gilani noting the enhanced trade between the two countries after signing the Free Trade Agreement agreed to expand the FTA to include services and investment.
Sri Lanka was the first to sign a FTA with Pakistan and Pakistan is the second largest trading partner of Sri Lanka within the South Asian region.
The two leaders also discussed increasing the cooperation in air travel between the two countries. President Rajapaksa sought to restart the flight operations of the Pakistan's state-run airline, PIA while the Premier said Pakistan's largest private airline, Air Blue will start flights to Colombo.
During his visit to Colombo for the Regional Cooperation Development meeting in October, Pakistani Foreign Minister is expected to meet the Sri Lankan Aviation Minister to further discuss the air travel arrangements.
To enhance cooperation in education, the two leaders alos agreed to offer post-graduate scholarships to the students of each other's countries on a reciprocal basis.
Prime Minister Gilani congratulated President Rajapaksa on the successful end of war in Sri Lanka and sharing the Pakistan's experience in resettling refugees discussed the Sri Lanka government's resettlement efforts of the IDPs in the North.
President Mahinda Rajapaksa has accepted an invitation extended by the Prime Minister for an official visit to Pakistan.
Pakistan has been a major ally of Sri Lanka in its war against the Tamil rebels supplying high tech military equipment to the Sri Lankan army and training its armed forces. Sri Lanka is a major buyer of Pakistani defense equipments and products.
(Pictures by Sudath Silva)
Related Info :
• Pakistan-Sri Lanka FTA (PSFTA) - Detailed Information - The Board of Investment of Sri Lanka (BOI)
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