Trade opportunities under FTA with Pakistan stressed

The High Commissioner of Sri Lanka in Pakistan W.B. Dorakumbure has emphasised the need for efforts to fully utilise opportunities under the Free Trade Agreement (FTA) to boost bilateral trade.

Speaking at a meeting of the Karachi Chamber of Commerce and Industry (KCCI) recently, he said both countries have signed the FTA sometime back but it did not achieve the desired results.

He believed that two-way trade could be increased many times over with little effort. Both countries offer a number of goods which can be imported and exported to the other, the diplomat added, saying that currently bilateral trade is only around US $ 300 million.

He said that Sri Lanka could help Pakistan in the service sector, education, tourism, and information technology, also saying that Sri Lanka offers the best tourism opportunities, while inviting Pakistanis to visit Sri Lanka and see the beautiful country.

The High Commissioner also invited the business community to participate in the SAARC country exhibition scheduled to be held in Colombo from August 28 to 31.

Welcoming the guests, Senior Vice President KCCI, Iftikhar Ahmed Shaikh said KCCI and the Ceylon Chamber of Commerce has signed a Memorandum of Understanding (MoU) on co-operation but it failed to disseminate information necessary to boost trade.

He emphasised the need for frequent exchanges of delegations and trade information to boost bilateral trade.