Editorial

Security

Politics

World

Letters

Sports

Obituaries

Archives

Bandula Jayasekara in Islamabad

Sri Lanka and Pakistan are focusing on economic ties during this visit of President Mahinda Rajapakse and it further boosted economic ties between the two countries, Dr. P. B. Jayasundera, Secretary Finance told the Sunday Observer in Islamabad.

He said "The bilateral Free Trade Agreement (FTA), the two nations entered in to in 2005 has boosted trade and doubled exports to Pakistan. As a further support to these developments, the Sri Lankan government offered a 10 million USD credit line to Pakistani importers to buy Sri Lankan products particularly from SME sector".

Yesterday (Saturday) President Rajapakse met with the members of the Pakistan Chamber of Commerce (FPCCI) and Industry in Islamabad along with Minister of Trade and Commerce Jeyaraj Fernandopulle and other officials. The President invited Pakistani business persons to invest in Sri Lanka. President of the FPCCI Chaudhry Muhammad Saeed said seventeen (17) Pakistan companies have already invested in Sri Lanka.

He pointed out the importance of further boosting trade and economic ties between the two countries.

Pakistan has also welcomed Sri Lanka's proposal to set up a dedicated GSP plus investment zone. Both countries are making efforts to work towards increasing the tourist traffic between the two countries. A MoU was signed on Friday on Tourism. The two countries also recognize the importance of enhancing the air connectivity to further increase the tourist traffic.

Discussions are also being held to recommence a regular feeder shipping service between Colombo and Karachi. On Friday, Pakistan and Sri Lanka signed four MoU's in the field of Education, Tourism, Cultural cooperation and Legal Assistance in criminal matters. A donation of 500 MT rice was made for the benefit of those affected by the earthquake last October.

President ended his three-day visit Pakistan after a visit to Karachi.

| News | Business | Features | Editorial | Security |
| Politics | World | Letters | Sports | Obituaries | Junior Observer |

Produced by Lake House
Copyright 2001 The Associated Newspapers of Ceylon Ltd.