Published On: Sun, Jan 19th, 2014
Published in Category: Karachi

Sri Lanka wants more trade with Pakistan

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KARACHI: Sri Lanka and Pakistan are two countries that enjoy very close and cordial relations in South Asia but these close brotherly ties can be further strengthened by increasing the trade volume between the two countries.

This was said by the newly arrived Sri Lankan Consul General Mr H.M.B. Herath at a media reception hosted at his residence.

The Sri Lankan envoy said bilateral trade between Pakistan and Sri Lanka had increased by 13 percent in 2013 compared to the previous year and stood at $438 million. He added it was his sincere wish to further expand trade relations and he would work tirelessly in this respect.

Giving details about Pakistan, Sri Lanka trade Mr Herath said that the balance of trade was heavily in Pakistan’s favour with Pakistan’s exports to Sri Lanka being $361 million and imports from Sri Lanka being $77 million for 2013.

He added that cement, sugar, cotton and basmati rice were the main Pakistani exports to Sri Lanka while Sri Lanka exported spices particularly black pepper, betel leaf, coconut and coconut by-products, lentils and rubber to Pakistan.

The Sri Lankan Consul General invited Pakistani entrepreneurs and investors to invest in his country saying Sri Lanka was one of the most attractive investment destinations in the world due to its strategic location and constitutional guarantees for foreign investment, with Colombo being one of the most modern and important ports in this part of Asia.

He urged Pakistani entrepreneurs to look at the agriculture, textile and information technology sectors in Sri Lanka which offered attractive opportunities.

Replying to query he said besides investment opportunities Sri Lanka was also a fantastic tourist destination which had lots to offer to the Pakistani tourist.