Pak-Sri Lanka trade to reach $1bn

KARACHI: The newly appointed Consul General of Sri Lanka to Karachi, D.W. Jinadasa said that Bilateral trade between Sri Lanka and Pakistan is likely to double from Rs 28 billion Rs 55.5 billion by 2015. "Politically and economically, our ties are sound and are growing from strength to strength.

The signing of the Free Trade Agreement in 2002 and its implementation in 2005, were significant milestones in our bilateral relations. It has further consolidated, enhanced and strengthened our bilateral theism the SL diplomat said adding that he would continue with the efforts made by his predecessors.

Jinadasa said total trade turnover which was $158 million in 2005 has increased to $ 252 million in 2009 which is quite encouraging but he, however, said that the real potential of bilateral trade is yet to be explored.

Both the countries should strive for increasing the current level of trade to $ 500 million or even $ 1 billion within next five years, Jinadasa said adding that given the special characteristics of our cordial relations, positive economic fundamentals and keenness at the highest level followed by close proximity, I strongly feel that this target is within our reach. (Daily Times, Pakistan)