‘Vast scope exists for trade expansion’

LAHORE: Leader of the visiting Sri Lankan delegation Prasanna Jayasinghe said that there is a vast scope for the expansion of two-way trade between Pakistan and Sri Lanka in the presence of Free Trade Agreement (FTA), a statement said on Monday.
He stressed the need to strengthen multifaceted and multi-sectoral cooperation in the fields of herbal medicine, gems and jewellery, culture, commerce and trade, science and technology and tourism.
He was full of praise for Pakistan government and the people for their moral support to Sri Lanka on every issue. He; however, said that except for trade, everything else was fine between Pakistan and Sri Lanka.
Sri Lanka offer huge opportunities in gem and jewellery, rubber, garments, hospitality, services and there is a need to take advantage of liberal trade policies of the Sri Lankan government, he said.
Later, the high powered 17-member Sri Lankan delegation had B2B meetings with their Pakistani counterparts at the Lahore Chamber of Commerce and Industry, the statement said.
LCCI President Sheikh Muhammad Arshad said that the existing trade volume is not at par with the potential of the two countries.
Pakistan’s exports to Sri Lanka have declined to $266 million in 2014 from $316 million in 2013.
“Pakistan and Sri Lanka are lucrative investment locations for each other’s exporters as, on the one hand, Pakistan is a gateway to resource-rich Central Asian States, while on the other, Sri Lanka enjoys easy access to huge European and Indian markets," the LCCI president added.