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Friday, December 18, 2009 - 7.20 GMT |
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SL, Pak to
boost trade |
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If a
Comprehensive
Economic
Partnership
Agreement
(CEPA)
is
signed
between
Pakistan
and Sri
Lanka,
it will
boost
trade
between
the
countries
and
market
access
to other
markets
like
India,
China
and the
EU.
VS
Sidath
Kumar,
Consul
General
of Sri
Lanka
made
these
comments
at a
seminar
on
Pak-Sri
Lanka
Free
Trade
Agreement,
co-organised
by the
Karachi
Chamber
of
Commerce
&
Industry
with the
support
of Sri
Lankan
Consulate.
He said
CEPA
will
incorporate
trade in
goods,
services,
investment
and
customs
cooperation.
Speaking
on the
occasion,
Abdul
Majid,
KCCI
President,
said
currently,
according
to the
Free
Trade
Agreement
(FTA)
signed
on June
12, 2005
Sri
Lanka
now
enjoys
duty
free
market
access
on 206
products
in the
Pakistani
market
including
tea,
rubber
and
coconut.
Where as
Pakistan,
in
return,
has duty
free
access
to 102
products
in the
Sri
Lankan
market.
These
products
include
oranges,
basmati
rice and
engineering
goods.
However,
he
announced
that a
number
of
products
that can
be
imported
from Sri
Lanka to
Pakistan
have
increased
to
around
4,000
which is
under
final
phase of
free
Trade
Agreement
(FTA)
between
the two
countries.
He said
in FTA
Sri
Lanka
will
abolish
customs
duty on
4,527
tariff
lines of
5,224 at
six-digit
level
over
three
years
and
enjoy
duty
free
benefits
on
exports
of
natural
rubber,
coconut
products,
spices,
natural
graphite,
paper
and
paper
products,
copper
and
aluminium
products.
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