The sky is the limit for Sri Lanka - Asif Ali Zardari

By Surekha GALAGODA

Azif Ali Zardari

The sky is the limit for Sri Lanka, said Pakistan President Azif Ali Zardari addressing the Sri Lanka Pakistan Business Forum during his four day visit to Sri Lanka. He said that Sri Lanka needs at least 10 years to develop and Pakistan as an old friend will support the process. It took 30 years for Germany to transit. Sri Lanka should be supported to go through the transition smoothly, he said.

President Ali Zardari proposed that Pakistan and Sri Lanka should have a conference with the financial teams of both countries to discuss measures to be adopted for the development of Sri Lanka.Sri Lankan and Pakistan Airlines will cooperate to launch daily flights while The National Bank of Pakistan will also open a branch in Sri Lanka, said Chairman BOI and Minister of State, Pakistan Saleem H. Mandviwalla . The State Minister said that the government of Pakistan will extend a soft credit of $ 200mln to Sri Lanka to promote exports. He said that in the SAARC region Pakistan is the second largest trading partner of Sri Lanka.

After the signing of the Free Trade Agreement between Pakistan and Sri Lanka trade has grown from $150 mln in 2005 to $ 252 mln in 2009.