Creating awareness among the two countries about the benefits available from Pak-Sri Lanka trading arrangements: Minister for Commerce
Islamabad: Creating awareness among the business communities of the two countries about the benefits available to them from the Pak-Sri Lanka FTA and SAFTA is an effective way to leveraging bilateral and regional trading arrangements. This was stated by the Federal Minister for Commerce Makhdoom Amin Fahim, while addressing the dinner party being given in the honour of visiting Sri Lankan Trade delegation headed by its Minister for Industries and Commerce, HE Rishad Bahtiudeen.
The Commerce Minister Makhdoom Amin Fahim termed the 10th JEC (Joint Economic Commission) session between Pakistan and Sri Lankans a welcome development and expressed, Pakistan looks forward to progress on all outstanding commercial and economic initiatives between the two countries. Both the counties may extract maximum trade and commercial benefits from the bilateral, regional and multilateral arrangements for the betterment of their people, Makhdoom Amin Fahim stated further.
Pakistan has concluded an FTA with Sri Lanka on August 1st, 2002, which has been operational since 12th June 2005. During 2010, exports from Pakistan were US $ 283.142 million, while imports from Sri Lanka were US $ 54.602 million. The pace of growth was encouraging for both the countries. Pakistan’s exports are mainly rice, fish, cotton yarn and pharmaceuticals etc. while imports are limited mainly to tea, fruits and seeds etc.
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