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Sri Lanka and Pakistan signed a bilateral Free Trade Agreement (FTA) during President Chandrika Bandaranaike Kumaratunga's three- day state visit.

President Chandrika Bandaranaike Kumaratunga and Pakistan Prime Minister Shaukat Aziz after the signing of the Free Trade Agreement(FTA) between Pakistan and Sri Lanka by Foreign Minister Lakshman Kadirgamar and Commerce Minister of Pakistan Hayuman Akthar Khan.  Picture by Sudam Gunasinghe

It was signed by Foreign Minister Lakshman Kadirgamar and Commerce Minister of Pakistan Hayuman Akthar Khan in the presence of President Kumaratunga and Pakistani Prime Minister Shaukat Aziz.

The FTA, the first to be signed by Pakistan with any other country will expand and develop trade between the two countries. Currently Pakistan is the second largest trade partner of Sri Lanka among SAARC countries. The value of trade between these two countries amounts to Rs. 10.4 billion comprising Rs. 6.5 billion imports from Pakistan and Rs. 3.5 billion exports from Sri Lanka.

The major exports from Sri Lanka are edible fruits and nuts, tea and spices, oil seeds, vegetable, rubber and rubber products.

The major imports from Pakistan to Sri Lanka are cereals and edible fruits, pharmaceutical products, plastic products, raw hides, cotton and fabric, iron and steel, machinery and sports items.

The delegation comprised Chairman, Ceylon Chamber of Commerce Deva Rodrigo, Immediate Past Chairman, CCC,- Tilak De Zoysa, Deputy Chairman, John Keells Holdings Ltd- Susantha Ratnayake, President, National Chamber of Commerce of Sri Lanka- Nirmali Samaratunga, President, Federation of Chambers of Commerce and Industries Sri Lanka- Navaz Rajabdeen, Senior Vice President, FCCISL- Kosala Wickramanayake, President South Asian Chamber of Commerce and Industry- Macky Hashim, Director, Eswaran Brothers Foods (Pvt) Ltd- D. Essuwaran, and Deputy Chairman, Sampath Bank Ltd - I. W. Senanayake.

The delegation attended the Business Forum from on February 8 and 9.

The Pakistani delegation, comprised representatives of Chambers of the major cities of Pakistan, key importers, exporters, and potential investors.

The delegation also visited the PAK Expo 2005 Exhibition being held in Karachchi on an invitation extended by Tariq Ikram, Minister of State and Chairman of Export Promotion Bureau of the Government of Pakistan.

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