Sri Lankan envoy keen to boost bilateral trade with Pakistan

Islamabad:High Commissioner of Sri Lanka to Pakistan, Ravindra Chandrasiri Wijegunaratne has said that he is keen to enhance the bilateral trade between Pakistan and Sri Lanka up to $800 million, for which the potential in various sectors in both countries has to be exploited, says a press release.

At present, the bilateral trade potential between the two countries is $1 billion, which is achievable, but he is committed to take the bilateral trade to the target of $800 million during his tenure.

The High Commissioner said this to a delegation of Islamabad Chamber of Commerce and Industry (ICCI) led by its President Ahsan Zafar Bakhtawari. The envoy said that the bilateral trade between the two countries was $400 million last year, which was less than that of $510 million in year 2018. He added that Pakistan and Sri Lanka signed a Free Trade Agreement in 2005, which was Pakistan’s first FTA with any country.

He said that there are multiple cooperation opportunities between the two countries especially in agriculture, industry, tourism and religious tourism. The envoy further said that geo-strategically Pakistan is of utmost importance especially its land link with Central Asia and that its economic integration is also very useful for Sri Lanka. He expressed the hope that strengthening of economic and trade relations between Pakistan and Sri Lanka will take the bilateral trade between the two countries to a higher level once again.

The ICCI President, Ahsan Zafar Bakhtawari said that the Free Trade Agreement between Pakistan and Sri Lanka was signed in 2005, but its true potential has not been exploited.