Pakistan to export cement, rice to Sri Lanka

COLOMB: Pakistan will supply cement and rice to Sri Lanka, even as the two countries have pledged to avail of the vast untapped potential for bilateral trade.

Sri Lankan government would import cement from Pakistan through the recently set up State Trading Co-operative Wholesale Company Ltd to counter the shortage allegedly created by errant traders concealing their stocks.

A spokesman of the Sri Lanka state owned company said the agreement is expected to be signed shortly with a company in Pakistan to import cement.

"The demand for cement has risen with the commencement of many massive infrastructure projects," he said.

The Trade Development Authority of Pakistan (TDAP), meanwhile, has agreed to export 500 tonnes of basmati rice to Sri Lanka to bridge its demand-supply gap.

The island nation, on its part has allowed the import of these consignments duty free to keep its prices under check and encourage high imports.

Meanwhile, the trade officials of the two countries in their recent interactions have stressed on the need to improve the bilateral trade, taking advantage of its vast potential.

Sri Lanka has invited Pakistan to invest in sectors such as cement, aluminium and its products, power generation and value added textiles.

It has also sought the neighbouring country's investment in construction, petroleum refining and service industry like banking, tourism and consultancy services.