Pakistan To Expand Trade With Sri Lanka
Faizan Hashmi Published July 22, 2016 | 06:15 PM
ISLAMABAD, (UrduPoint / Pakistan Point News - 22th july, 2016) : Sri Lankan Minister of Industry and Commerce Rishad Bathiudeen said that Pakistan has proposed for a new, turnaround level trade between the two countries. Pakistani Minister for Commerce Khurram Dastgir Khan suggested widening the trade with Sri Lanka during a bilateral meeting with Minister Bathiudeen on the sidelines of 14th Session of the UN Conference on Trade and Development in Nairobi, Kenya, Colombo Page reported on Friday. "Our analysis is that our two economies do not compete with each other and therefore we can aggressively open up to move from our current "few items trade basket" to a much larger trade scheme," Khurram Dastgir said during the meeting. "We believe we can start our new rounds with a Mutual Recognition Agreement.
We have an opportunity-Let us walk the talk" he said. Dastgir also noted that the Pakistan single country exhibition held in Colombo was a great success and generated new trade interest among Pakistani businesses adding that "We also invite stronger Lankan trade and business delegations to Pakistan so that we can start at B2B levels.
" Bathiudeen welcoming the trade expansion offer, assured Dastgir that Sri Lanka is working to send a strong trade and B2B delegation to Pakistan in the near future and said he will inform the government leaders of the offers including the call for a Mutual Recognition Agreement. "A significant improvement in our bilateral trade has been recorded since the Pakistan Sri Lanka Free Trade Agreement (PSFTA) came into force in June 2005.
Still, there appears to be unrealized trade potentials that we can jointly explore," he said. Total trade between the two countries increased to USD 370.38 million in 2015 from 2014's USD 353 million, retaining Pakistan's position as the second largest SAARC trade partner of Sri Lanka.
Related Topics
Recent Stories
Pakistan's total liquid foreign reserves reach $ 13.42 billion
European stock markets head into Easter break with slight gains
Over Rs 64 billion disbursed among deserving, needy under Benazir Kafaalat schem ..
Battles, bombardment in Gaza as US says Israel talks back on
Aeon & Trisl signifies back-to-back successes by securing the No. 1 Award at the ..
China lifts punitive tariffs on Australian wine
Asian markets mixed after Fed official floats rate cut delay
CCP to sign MoU China’s market regulatory
Attaullah Tarar’s success notification from NA-127 challenged
Rupee gains 01 paisa against dollar
PSX closed at historic high level of over 67,000 points
PSX witnesses positive trend today
More Stories From Pakistan
-
Commissioner for making drug addicts useful citizens through skills
26 minutes ago -
Health Minister handovers emergency medicine supplies to hospitals in 17 districts
36 minutes ago -
Interior Minister inspects various sections of CTD headquarters
36 minutes ago -
CTP accelerate operation against encroachments, illegal parking
46 minutes ago -
DG Health announces construction of new dental unit at RHC Khangarh
46 minutes ago -
MDA to make new U-turns on Bosan road to ease traffic flow
46 minutes ago
-
Dengue preventive, control campaign accelerates in district
56 minutes ago -
Commissioner presides meeting regarding 21th Ramazan of Larkana region
56 minutes ago -
Court awards two-time death sentence in a murder case
56 minutes ago -
NHA working to remove debris to open Zhob-Dhanasar road
56 minutes ago -
UNICEF delegation calls on KP CM; discusses issues of public welfare
56 minutes ago -
65 Deputy Public Prosecutors promoted
1 hour ago