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Tuesday, January 11, 2011 - 06.14 GMT

Pak- SL discuss trade


Pakistan President Asif Ali Zardari yesterday called for stronger economic cooperation with Sri Lanka underscoring the need to increase bilateral trade between the two countries.

The Pakistan President assured Sri Lanka of soft term credit facility for the export of Pakistani cement and sugar plants to Sri Lanka when a Sri Lankan parliamentary delegation led by Speaker Chamal Rajapaksa Monday called on the Pakistani President at Governor House.

He also stressed for enhancing economic cooperation between the two countries, including exchange of gem and stone cutting experts from Sri Lanka to Pakistan and Pakistani experts to Sri Lanka, Associated Press of Pakistan reported.

He added,”Pakistan can train police and intelligence officers of Sri Lanka”. The President underlined the need for increasing export of Sri Lankan tea to Pakistan and conduct bilateral trade in local currency.

The Pakistani leader has pointed out that the two countries can exchange the technical know-how on various trades to boost the economic cooperation between the two countries.

Speaker Chamal Rajapaksa appreciated the Pakistan's support Sri Lanka's armed struggle against the terrorists and has expressed Sri Lanka's full support for Pakistan in its efforts to curb terrorism in that country.

Sri Lanka and Pakistan inked four agreements on defence, agriculture, health, and education in November 2010 when Zardari met Sri Lankan President Mahinda Rajapaksa during a visit to the island.

Pakistan last December offered a soft credit of US$ 200 million to Sri Lanka for exporting, barter trade, and easing its business transactions while planning to boost the bilateral trade between the two countries over three-fold from existing US$ 300 million to US$ 1 billion.

The two countries already have a Free Trade Agreement, Bilateral Investments Treaty, and Avoidance of Double Taxation to facilitate business communities.






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Last modified: January 11, 2011.

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