Traders urged to explore Pakistan-SL FTA ties

The business communities 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, D.W. Jinadasa said.

Except for a few hundred products in the Negative List, all products are eligible for duty concessions and duty-free access, he said at a meeting with members of the 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 in 2010 with the trade balance in favour of Pakistan, he said.

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 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.

- The News, Pakistan