It gives me a great pleasure to issue a message on the occasion of the 61st Anniversary of Independence of the Democratic Socialist Republic of Sri Lanka. Soon after gaining independence, one of the first countries with which Sri Lanka, then Ceylon established diplomatic relations was Pakistan.
Since then, the relations between Sri Lankan and Pakistan in diplomatic, political, trade, economic, defence, social and cultural fields have evolved to be a very impressive co-operative partnership. It is a genuine relationship based on trust and mutual respect. I would like to state that Pakistan has extended her fullest support and assistance to Sri Lanka in times of crisis and emergencies.
Pakistan is the second largest trading partner of Sri Lanka in the SAARC region. The value of total trade between the two countries have increased from US $95 million in the year 2002 to US $235 million in 2007. The balance trade has been in favour of Pakistan. While Sri Lanka's exports to Pakistan remained at US $57 million, Pakistan's exports to Sri Lanka stood at US $178 million in the year 2007.
Sri Lanka's main export items to Pakistan are natural rubber, copra, fresh coconut, desiccated coconut, tea, spices, betel leaves, coir items, fiberboard of wood, pineapple, electrical sockets, porcelain ware etc. Pakistan's main exports to Sri Lanka are cotton fabric, textile fiber, medicaments, dried fish, potatoes, onions, oranges, rice, steel pipes etc.
The Free Trade Agreement between Sri Lanka and Pakistan which came into effect from June 2005, has paved the way to further enhance the bilateral trade. In order to expand the FTA, the two countries are now negotiating a Comprehensive Economic Partnership Agreement (CEPA), which encompasses trade in goods, services, investment and customs co-operation.
It could be observed that there are vast opportunities and potentials available in our countries for investments, joint ventures, tourism, shipping, banking, insurance, construction, educational and health facilities. During the year 2008, the two countries have participated in trade fairs and exhibitions, exchanged trade and investment delegations and organised trade, investment, tourism and FTA seminars.
Pakistan organized a single country exhibition in Colombo in January 2008 and participated in the "IMEXPRO" international exhibition in February 2008. Sri Lanka participated in the "My Karachi - Oasis of Harmony" international exhibition in Karachi in June 2008. Further, a trade and investment delegation from the Ceylon Chamber of Commerce visited Karachi in May 2008.
The promotional campaigns of herbal cosmetic products and coco peat, organised by the Consulate General of Sri Lanka in Karachi were very successful. I also wish to mention that the Pakistan - Sri Lanka Business Forum, which meets every month in the Consulate, plays an active role in promoting trade and investment between the two countries.
Furthermore, a Pakistan - Sri Lanka Friendship Association was established in January 2008 to promote friendship, tourism, culture and mutual understanding between the two countries. On this occasion, I wish to extend warm greetings and best wishes to the government and people of Sri Lanka and Pakistan to prevail peace, harmony and prosperity.
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