Pak, Lanka must increase cooperation to boost trade
Concerned over the slow pace of growth bilateral trade, Sri Lanka and Pakistan have called for increased cooperation to give impetus to the two way trade, currently pegged at $ 250 million annually.
By PTI |
COLOMBO: Concerned over the slow pace of growth bilateral trade, Sri Lanka and Pakistan have called for increased cooperation to give impetus to the two way trade, currently pegged at $ 250 million annually.
Sri Lankan Minister of Trade, Marketing and Consumers Affairs, Bandula Gunawardena said his country was willing to fully assist the business community of Pakistan to enhance trade ties with their counterparts in the Island Nation.
Gunawardena said this during a discussion with the Vice President, Federation of Pakistan Chambers of Commerce and Industry (FPCCI) Zubair F Tufail in Karachi on Thursday, an official statement said here.
He added that Pakistan and Sri Lanka need to complement each other's economies and promote commercial activities through frequent exchange of delegations and exhibitions.
Though the Free Trade Agreement between the two nations has brought positive results, but it still falls short of the potential available in both SAARC member countries, he added.
The FPCCI Vice-President said exports from Pakistan to Sri Lanka had increased by 112 per cent from USD 75.04 million in 2000-01 to USD 87.9 million in 2005-06.
Lanka is a major buyer of Pakistani cotton yarn and woven fabric which contributes 63.3 per cent in total exports of the former to Sri Lanka.
The Island country also imports iron and its articles, pharmaceutical products, rice, rags etc.
Pakistan's imports from Sri Lanka have also risen from USD 35.2 million in 2000-01 to USD 71.31 million in 2005-06. It imports rubber and its products, oilseeds, tea, spices, coffee, fruits among other items from Sri Lanka.
Tufail told the Sri Lankan minister that Pakistan was in a position to export cement to the Island Nation.
Sri Lankan Minister of Trade, Marketing and Consumers Affairs, Bandula Gunawardena said his country was willing to fully assist the business community of Pakistan to enhance trade ties with their counterparts in the Island Nation.
Gunawardena said this during a discussion with the Vice President, Federation of Pakistan Chambers of Commerce and Industry (FPCCI) Zubair F Tufail in Karachi on Thursday, an official statement said here.
He added that Pakistan and Sri Lanka need to complement each other's economies and promote commercial activities through frequent exchange of delegations and exhibitions.
Though the Free Trade Agreement between the two nations has brought positive results, but it still falls short of the potential available in both SAARC member countries, he added.
The FPCCI Vice-President said exports from Pakistan to Sri Lanka had increased by 112 per cent from USD 75.04 million in 2000-01 to USD 87.9 million in 2005-06.
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Lanka is a major buyer of Pakistani cotton yarn and woven fabric which contributes 63.3 per cent in total exports of the former to Sri Lanka.
The Island country also imports iron and its articles, pharmaceutical products, rice, rags etc.
Pakistan's imports from Sri Lanka have also risen from USD 35.2 million in 2000-01 to USD 71.31 million in 2005-06. It imports rubber and its products, oilseeds, tea, spices, coffee, fruits among other items from Sri Lanka.
Tufail told the Sri Lankan minister that Pakistan was in a position to export cement to the Island Nation.
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