Pakistan-Closer ties with Sri-Lanka.

PAKISTAN-CLOSE TIES WITH SRI-LANKA.

Karachi —V.S. Sidhat Kumar, Consul General of Sri Lanka has said that the Sri Lanka believes in market-oriented policies helping increase in export trade. Speaking SITE Association of Industry during his visit today he added that we encourage foreign investment. Sri Lanka ’s most dynamic sectors now are food processing, textiles, Apparel, beverages, port construction, telecommunications, insurance and banking. The bilateral trade between both countries has been strengthen through increase in number of products that can be imported from Sri Lanka 4,000 in numbers under final phase of Free Trade Agreement FTA effective on March 20, 2009.

He identified these imports as fish, meat, vegetable, foliage, plant, sugar, biscuits, pastry, cakes, mineral products, fiber boards, leather and leather-based products, footwear, gems, Jewellery, value added copper products, electrical items, printed circuits, bicycles, boats, floating structures. In the context of bilateral trade, Sidhat Kumar said that Pakistan has become second largest trade partner for Sri Lanka in South Asian region. Trade between two countries increased to $270 million in 2008. Sri Lanka ’s exports to Pakistan also increased on import of coconut products, tea, rubber and rubber-based products by Pakistan . Imports from Pakistan mainly consist of rice, vegetables, pharmaceuticals, potatoes, textiles, apparel.

Bilateral trade is improving due to liberalization through FTA. Expressing regret Consul General said that investment from Pakistan is not coming despite liberal investment policy. So many sectors are available for joint collaboration in Sri Lanka . He extended initiation to Pakistani investors to come to Sri Lanka and invest there. Sri Lanka garment sector is highly equipped educationally and professionally. Herbal medicines scope is very high in Sri Lankan.