Sri Lanka-Pakistan :

Business Forum a success

Charumini de Silva

The Sri Lanka-Pakistan Business Forum 2010 was a success for both countries in strengthening the trade ties.

The business community of both countries should take this opportunity of approaching the two billion population in the SAARC region with more active joint ventures, Federation of Chambers of Commerce and Industry Sri Lanka (FCCISL) Past President Nawaz Rajabdeen told Daily News Business.

He said Sri Lanka has maintained good relationships where the country has entered into several Free Trade Agreements (FTA). There is a good possibility for Sri Lanka to manufacture and export, but we need to add value to products we export. The country could attract a huge market, which comprise two billion population; with a value addition of 35 percent and the Sri Lankan origin, as the access to the SAARC market is easy with FTAs", he said.

"The time is right for Sri Lanka to harness the large markets with the sound economic environment.

However, not many of the Pakistan business community have looked at the potential for businesses in Sri Lanka.

The Sri Lanka-Pakistan Business Forum 2010 facilitated a common door to create a strong bridge of trade between the two countries.

We expect that the countries will take up business seriously from here", he said.

Rajabdeen said the Kankesanthurai cement plant is the largest cement plant in Sri Lanka. The Government is expecting to re-open the cement plant soon.

However, it is crucial to improve the infrastructure such as railways, roads and ports to create a better market access.

Thus, the Government is taking accelerated steps to developing the infrastructure in the area, while intensifying the development of the port.

Within the next two years the cement plant will be opened and will have a greater access to market too.