Early implementation of Free Trade Agreement (FTA) will promote bilateral trade between Pakistan and Sri Lanka. This was stated by Consul General of Sri Lanka Ms Manel d'Silva in a meeting with President Federation of Pakistan Chambers of Commerce and Industry (FPCCI) Riaz Ahmed Tata at Federation House on Tuesday.
She said that the trade volume between Pakistan and Sri Lanka was not to the desired extent. However the free trade agreement will bring about improvement in the bilateral trade and the business community will feel more comfortable under FTA to intensify their interaction which will also lead to joint ventures possibilities.
President FPCCI and Sri Lankan Consul General also discussed various aspects of Safta amongst the Saarc member countries.
The Consul General of Sri Lanka said that under Safta the private sector of Saarc region would have a leading role to play.
While discussing the future prospects in trade, Riaz Ahmed Tata proposed that the Sri Lankan importers should buy onion, rice, potato from Pakistan and the Sri Lankan government should reduced customs duty to zero percent under FTA.
He also suggested to lift the ban on import of ready made garments from Pakistan.
The Sri Lankan Consul General said that Pakistan was a lucrative market for tea and rubber but Sri Lankan share in both the items was nominal. She informed that the Sri Lanka Tea Association is sending a trade delegation to Pakistan to explore the potential in Pakistan market.
Riaz Ahmed Tata also suggested for an agreement between the two countries allowing exchange of workers and middle management so that the expertise could be exchanged and the training process could flourish.
The Consul General informed that the police registration was no more required in Sri Lanka. However she assured to take up this matter with the Sri Lankan government.
It was also informed by Riaz Ahmed Tata that FPCCI was planning to organise Pakistan Solo Exhibition in Colombo for which preparations were underway. It was also suggested that the Sri Lankan experts must come forward to develop Pakistan's tourist resorts.
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