Pakistan has good opportunity to increase its export to India through Sri Lanka by exploiting the Free Trade Agreement (FTA) between Sri Lanka and India, said Consul General of Sri Lanka, V.S. Sidath Kumar here on Monday.
Addressing members of Karachi Chamber of Commerce and Industry's (KCCI) sub committee on diplomatic affairs, he said that FTA between India and Sri Lanka includes 2004 items.
Pakistan can export its products to Sri Lanka and after some value addition these could be exported to India, he added. He inform that a high-powered Sri Lanka business and investment delegation will visit Pakistan in May to explore possibilities of investment and establishing industrial units as joint venture.
He said the delegation will prepare suggestions for increase two-way trade and identify areas wherein investment can be made or joint ventures be executed.
Referring to FTA between Pakistan and Sri Lanka, he said that both the countries need to work deductively to achieve one billion dollars bilateral trade's target.
He said that the government of Pakistan has allowed Sri Lanka airline to operate 7 flights a week, whereas the airline is operating only three flights a week between Karachi and Sri Lanka. Sidath Kumar said that the airline has also planning to start its flights from Islamabad and Lahore.
He said that Colombo Chamber of Commerce and Industry (CCCI) has indicated to singe Memorandum of Understanding (MOU) with KCCI on mutual co-operation. He assured that business community of his country would take part in KCCI's annual exhibition, which is scheduled to be held in June this year.
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