Lanka, Pakistan bilateral trade to reach US $ 1 b by 2015

Bilateral trade between Sri Lanka and Pakistan is targeted to be in the region of US $ 1 Billion by 2015. Sri Lanka and Pakistan should aim to increase the current level of bilateral trade between the two countries to US $ 500 million or even US $ 1 billion by 2015, the newly appointed Consul General of Sri Lanka to Karachi, D W Jinadasa said.

Speaking to the Pakistani newspaper Daily Times, Jinadasa said that bilateral trade between the two countries which was US $ 158 million in 2005 has increased to US $ 252 million in 2009 and the real potential of bilateral trade is yet to be explored.

He said that a target of US $ 1 billion is within reach in the next five years given the special characteristics of the cordial relations, positive economic fundamentals, and keenness at the highest level followed by close proximity between the two countries.

He said that politically and economically, ties between Pakistan and Sri Lanka are sound and are growing from strength to strength.

He told the Daily Times that the signing of the Free Trade Agreement in 2002 and its implementation in 2005 were significant milestones in bilateral relations. news.lk