Lanka welcome to hold trade exhibitions in Pakistan- Premier Nawaz
Sri Lanka is welcome to hold and take part in trade and investment
exhibitions in Pakistan which is on a path to economic prosperity backed
by political stability, Pakistan Premier Nawaz Sharif said last week
during his two-day visit to Sri Lanka for a soft launch of the Pakistan
Single Country Exhibition 2016 from January 15-17 at the BMICH.
Sharif said Sri Lanka and Pakistan have much to offer each other with
vastly rich resources and hard working people. Pakistan will extend its
fullest support to boost trade and investments in Sri Lanka.
The Sri Lanka-Pakistan Free Trade agreement signed in 2005 was the
first trade agreement and the first single country exhibition in the
The Pakistani Premier said that steps would be taken to include
services and investments in the FTA with Sri Lanka and will go for
currency swaps soon. “We see enormous potential for bilateral trade and
investments in Sri Lanka which shares a similar political and social
legacy. The single country exhibition will open a plethora of
opportunities for both countries to sign joint venture agreements and
promote mutual cooperation,” Sharif said.
The High-level exhibition which will feature representation from
Pakistani commercial establishments in 15 sectors.
The event, organised by the Trade Development Authority of Pakistan (TDAP)
in partnership with the High Commission of Pakistan in Sri Lanka is
expected to feature over 110 top organisations representing some of the
Pakistan’s leading companies and brands from a diverse range of
industries. These include Engineering Products, Auto Parts, Agro
Products, Textile & Clothing, Designer Wear, Handicraft & Traditional
Textiles, Cosmetics and Herbal Products, Pharmaceuticals, Cutlery, Gems
& Jewellery, Furniture, Carpets, Marble and Services. Participants
include leading companies such as Toyota GT Motors, Pak Star Automotive
Pvt. Ltd. and International Industries Limited (IIL). Apart from the
exhibition with over 400 stalls, the event will feature many B2B
meetings and Pakistani cuisine as well and is expected to be attended by
a trade delegation from the Maldives.
“The ‘Pakistan Single Country Exhibition 2016’ provides useful
platform to further enhance the excellent commercial and bilateral
relations between Pakistan and Sri Lanka and a timely opportunity for
Sri Lankan businesses to tap into the vibrant and progressive economy of
Pakistan and via the country to many other major economies,” the High
Commissioner of Pakistan in Sri Lanka, Maj. Gen. (R) Syed Shakeel
Hussain said. “Having many of Pakistan’s leading commercial
establishments and brands from an array of industries under one roof
presents an unprecedented opportunity for any interested parties.”
Pakistan, with a Gross Domestic Product (GDP) of US$ 243.6 billion (in
2014 at market prices) and population of 185 million, already has Free
Trade Agreement (FTAs) (which are signed and in effect) with China and
Malaysia, in addition to Sri Lanka.
Eight MoUs were signed between Sri Lanka and Pakistan on promoting
trade and investment.