Boost for Pakistan - Lanka trade

The High Commission of Pakistan in Sri Lanka in association with the Trade Development Authority of Pakistan, launched the EXPO Pakistan 2013 - Opportunities Unlimited in Colombo last week to boost bilateral trade.

Industries and Commerce Minister Rishad Bathiyutheen was the chief guest and jointly inaugurated the event with the High Commissioner of Pakistan, Major General (Ret.) Qasim Qureshi.

The Deputy High Commissioner of Pakistan gave a detailed presentation on the EXPO Pakistan 2013, its history, concept, features and the logistics pertaining to the event.

High Commissioner Qureshi said economic diplomacy is the primary focus of Pakistan's new government. Pointing out that formal mechanisms such as the Free trade Agreement, Bilateral Investment Treaty, Customs Cooperation Agreement and Agreement on Avoidance of Double Taxation are already in place in Sri Lanka, the High Commissioner urged the business communities of both countries to use these mechanisms to take economic ties to a new level.

He said all efforts will be made to attain the trade target of US$ 1 billion between Pakistan and Sri Lanka. The Joint Economic Commission, established between the two countries, is due to meet in a few months, he said, adding that it will address the existing obstacles in trade and consider other avenues to expand the economic ties between the two countries.

Minister Bathiyutheen welcomed the initiative of the High Commission to introduce the EXPO Pakistan 2013 in an interactive session to the business community of Sri Lanka. Expressing his satisfaction on the progress and pace of economic ties between Pakistan and Sri Lanka, the Minister said a concerted effort was needed on both sides to translate the excellent political relations into strong economic and commercial relations. He said Sri Lanka under the aegis of the Export Development Board will send a strong delegation to attend the EXPO Pakistan 2013.