Sri Lanka and Pakistan have recognized that the bilateral trade between the two countries has potential to increase significantly.
Pakistani Prime Minister Raja Pervez Ashraf Thursday has said that the bilateral trade between Pakistan and Sri Lanka has the potential to increase much more than the current volume of US$ 400 million.
During a meeting with Sri Lanka's High Commissioner in Islamabad, Air Chief Marshal (Retd) Jayalath Weerakkody, at the Prime Minister's House, Pakistani PM has pointed out the need to significantly enhance the trade between the two countries.
Sri Lanka is the first country with which Pakistan entered into a Free Trade Agreement for trade of goods in 2005. While Pakistan has listed 206 products as immediate zero duty concession products, Sri Lanka has listed 102 products.
Prime Minister Ashraf has also emphasized the need for people-to-people, institution-to-institution and government-to-government exchanges between the two countries.
The Prime Minister has said that Sri Lanka is a true friend and the personal efforts of the High Commissioner had further cemented the bilateral relations between the two countries.
Prime Minister Ashraf has assured the Sri Lankan envoy of Pakistan's continuous support to Sri Lanka in its development pursuits. He termed the relations between the two countries as 'historic' which had been strengthening during the diplomatic history of the two countries.
The High Commissioner has said that Sri Lanka was looking forward to the upcoming visit of Pakistan's Foreign Minister, Ms. Hina Rabbani Khar, in the first week of August, 2012.
The Prime Minister hoped that with the visit of Pakistan's Foreign Minister, the bilateral relations would get a new boost.
The Sri Lankan High Commissioner has extended the Pakistan Prime Minister an invitation to visit Sri Lanka and the PM has said that he would take up on the invitation at an early date.
The Prime Minister has asked the High Commissioner to convey the assurance of his highest considerations to the leadership of Sri Lanka.
The Sri Lankan High commissioner has expressed his appreciation to the government of Pakistan for its support on the UN resolution on Human Rights adopted by the UNHCR in Geneva in March and the fight against the LTTE terrorism.