Lanka welcome to hold trade exhibitions in Pakistan- Premier Nawaz Sharif

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 region.

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.