Pakistan, Sri Lanka to increase bilateral trade
By Asad Cheema

ISLAMABAD—Pakistan and Sri Lanka has decided to increase bilateral TradeThis was stated by Mr. Zubai F. Tufail, Vice President, FPCCI while talking to Mr. Bandula Gunawardena, Trade Minister of Trade Marketing and Consumers Affairs of Sri Lanka, during his visit at FPCCI, Head Office, Karachi to meet the Business Community.
Vice President, FPCCI highlighted the export of Pakistan to Sri Lanka has increased by 112% from $75.04 million in 2000-01 to $87.9 million in 2005-06, he further said that Lanka is a major buyer of Pakistani Cotton yarn & Woven fabric which contributes 63.3% in total exports of Pakistan to Sri Lanka, followed by Iron and its articles, Pharmaceutical products, Rice, Made up textiles, rags etc. but imports of Pakistan from Sri Lanka have increased only minutely by 102% from $35.2 million in 2000-01 to $71.31 million in 2005-06 that includes Rubber & articles followed by Oil seeds, Grains etc, Coffee, Tea & Spices etc, Ed. Fruits, Nuts etc and Wood Charcoal, Food & its Articles in 2005-06 Mr. Zubair F. Tufail apprise that the impact of FTA between Pakistan and Sri Lanka witnessed positively on Sri Lanka and Pakistan both but still bilateral trade relation between Pakistan and Sri Lanka are insignificant as compared to the potential available as both the countries are the members of SAARC and both will be benefited by the enhancement in the efforts to increase the regional trade and it will help in foster implement.
He further said, regarding Pakistan’s Cement Industry that the quality meet all the criteria, Plants are brand new and meet the all international quality standards, and since last 4 years Pakistan Cement Industry has grown very maturity, and at the moment there are 25 Cement manufacturing units in the country, and exist great opportunity for export of Pakistan Cement to Sri Lanka. Mr.Bandula Gunawardena, Trade Minister of Trade Marketing and Consumers Affairs of Sri Lanka apprise the bilateral trade with Pakistan he said that Federation is indeed a truly an apex body of Trade in Pakistan and the only representative of entire Business Community of Pakistan and said that Sri Lanka is in process of development stage, as our government is providing many higher incentives to the people.