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Wednesday, November 04, 2009 - 5.10 GMT |
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Sri Lanka
,Pakistan lucrative investment destinations
for exporters - KCCI |
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Sri
Lanka
and
Pakistan
are
lucrative
investment
destinations
for
exporters
of both
countries
as on
the one
hand Sri
Lanka
enjoyed
duty-free
access
to huge
European
Union
and
Indian
markets
while on
the
other
hand
Pakistan
was a
gateway
to
resource-rich
Central
Asian
States,
said
President
of the
Karachi
Chamber
of
Commerce
and
Industry
(KCCI)
Abdul
Majid.
"...
imports
from Sri
Lanka
increased
from
dollars
28.52
million
in
2001-02
to
dollars
61.58
million
in
2007-08,
shows
increase
of 116
percent",
Mr.
Majid
said.
Pakistan-Sri
Lanka
Free
Trade
Agreement
(FTA)
needs
revision
to
enhance
the
bilateral
trade,
he
further
stated.
A
seminar
will be
held on
December
2, 2009,
where
Pak-Sri
Lankan
trade
experts,
members
of KCCI
and High
Commissioner
of Sri
Lanka
will
address
and
identify
products
and
areas
and
discuss
ways to
boost
the
bilateral
trade.
President
of KCCI
highlighted
that
there is
ample
goodwill
for
expansion
of trade
and
establishment
of joint
ventures
between
the two
countries
in
agro-based
products
including
sugar
production,
seafood
processing;
value-added
textiles
and
garments;
tea and
its
plantation;
electronics;
metal
fabrication
and
light
engineering;
pharmaceutical
products;
dehydration,
preservation
and
canning
of
fruits
and
vegetables
etc.
He noted
possible
joint
ventures
in food
processing,
seafood,
fruits
and
vegetables,
ship-breaking,
value-added
textile
products,
sports
and
surgical
goods
and
pharmaceutical.
The
Chamber
Chief
also
invited
Sri
Lankan
companies
to
participate
in the
7th
International
“
My-Karachi
: Oasis
of
Harmony
Exhibition”
to be
organized
in June
2010.
Commenting
on the
Pak-Sri
Lanka
FTA, Sri
Lankan
Consul
General
highlighted
that
possibilities
do exist
to
increase
export
of
agro-based
products
to Sri
Lanka
subject
to
revision
of FTA.
He
informed
about
the
great
demand
of
Pakistan
onion in
Sri
Lanka
which is
not
included
in FTA,
and
seconded
the
suggestion
of
SVP-KCCI
to
collaborate
in
shrimp
farming
and sea
food
products.
He
invited
KCCI
members
to
invest
in Sri
Lanka
where
the
Government
is
providing
investment
opportunities.
Consul
General
of Sri
Lanka
said
they
have
observed
smuggling
of
Coconut
(Khopra)
from
Pak-Kashmir
border
which
was
hurting
the
legal
export
of Sri
Lanka
and
urged
the KCCI
to
inform
Government
to
prohibit
this.
Sri
Lankan
Consul
General
informed
that
bilateral
trade is
improved
to 70
percent
whereas
the
existing
trade
potential
of
dollars
300
million
was not
achieved
yet,
reported
the APP.
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