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Sri Lanka to host first high level Pak-Lanka business forum

YarnsandFibers News Bureau 2015-11-09 14:00:00 – Islamabad

The Export Development Board of Sri Lanka is hosting the first high level Pak-Lanka business interaction forum to explore areas for enhancing trade relations and promoting bilateral investment between the two countries. IT will be held in Colombo on Nov 11, 2015.

The Pak-Lanka trade and investment talks are taking place in furtherance to the understanding reached between Prime Minister Nawaz Sharif and Sri Lankan President Maithripala Sirisena in April this year when the latter visited Pakistan.

The two sides had decided to take the bilateral trade and investment to new heights.

The Trade Development Authority of Pakis¬tan is also organizing the Pakistan Single Country Exhibition in Colombo from Jan 15 to17, 2016 to showcase the whole range of Pakistan’s industrial sector to Sri Lankan consumers. More than 150 Pakistani companies are likely to attend the event.

Commerce Minister Khurram Dastgir Khan will lead a high-powered delegation to the Pak-Lanka business forum which will comprise public representatives and people from manufacturing sectors, cement, pharmaceutical, food and beverage, sugar, shipping and construction.

During his three-day stay in Sri Lanka, the commerce minister will call on President Sirisena and Prime Minister Ranil Wickreme¬singhe. He is also expected to hold talks with Lankan Minister for Industry and Commerce Rishad Bathiudeen, Minister for Public Administration and Management Ranjith Madduma Bandara and Minister for Megapolis and Wes¬tern Development Champika Ranawaka.

Pakistan is the second largest trading partner of Sri Lanka in Saarc whereas Sri Lanka is the first country to sign free trade agreement with Pakistan in July, 2002, which was put into operation in June, 2005.

Pakistan is an important export market for tea, followed by rubber, betel leaves and tamarind. For Pakistan, Sri Lanka is an important market for textile, agricultural items, cement, GI pipe, pharmaceuticals and machinery.

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