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| Sunday, 6 February 2005 |
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Lanka - Pakistan FTA soon The Pakistan-Sri Lanka free trade agreement (FTA) will be signed during the forthcoming visit of President Chandrika Bandaranaike Kumaratunga to Pakistan. "The agreement to boost trade between the two countries has been finalised," Commerce Minister Humayun Akhtar Khan said while addressing the executive committee members of Lahore Chamber of Commerce and Industry here on Monday, Dawn newspaper reported. The framework agreement of the FTA was signed in August 2004. According to the framework agreement two countries agreed upon the sensitive list of goods and Pakistan had reduced the negative list on Sri Lanka's exports from 820 to 200 while Sri Lanka's negative list had been reduced from 1282 to 500. The Agreement will give Sri Lanka a major push for its apparel exports to Pakistan along with tea, electronics and engineering products while Pakistan will be exporting vehicle engineering products and some agricultural products. The Agreement while promoting trading relations between the two SAARC nations, also aims to foster local industries. |
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