Traders urged to explore Pak-Sri Lanka FTA prospects

KARACHI: Business community of Pakistan and Sri Lanka should explore opportunities created under the Free Trade Agreement (FTA) between the two countries, the Consul General of Sri Lanka, DW Jinadasa said on Thursday.

Except for a few hundred products in the negative list, all other products are eligible for duty concession and duty free access, he said in a meeting with members of Karachi Chamber of Commerce and Industry (KCCI).

Pakistan is the second largest partner of Sri Lanka in the SAARC region after India, he said. The value of total trade between Sri Lanka and Pakistan increased from $158 million in 2005 to $342 million 2010 with trade balance in favour of Pakistan, he added.

Jinadasa invited Pakistani entrepreneurs to visit Sri Lanka to explore the possibility of increasing trade and economic relations between the two countries.

Mian Abrar Ahmed, President, KCCI stressed the need to further explore the bilateral trade prospects. “There is a need for frequent exchange of delegations and data based information on trade and markets and holding of single country exhibitions,” he said.

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