10th session of Pak-Sri-Lanka Joint Economic Commission concludes with success

10th Session of Pakistan-Sri-Lanka Joint Economic Commission (JEC) was concluded successfully in Islamabad recently.

Ms. Hina Rabbani Khar, Minister of State for Foreign Affairs, Finance & Economic Affairs led the Pakistan side whereas Mr. Rishad Bathiudeen, Minister of Industry and Commerce led the Sri-Lankan delegation. Both the delegations acknowledged that relations between the two countries are based on shared understanding on a wide range of regional and international issues.

The Pakistan High Commission said yesterday during the JEC meeting discussions were held on promoting cooperation in various economic and technical fields and both sides agreed on the following:

i)  To hold FTA review meeting/Comprehensive Economic Partnership Agreement (CEPA) negotiations in the month of August, 2011 in Colombo. All matters relating to trade will be discussed in detail at the time of FTA review which is expected to be held in August, 2011 in Colombo.

ii)  Holding of regular Joint Economic Commission (JEC) meetings.

iii)  Both sides agreed to encourage regular exchange of trade delegations at least one from each side in a year.

iv)   To encourage their businessmen for participation in exhibitions in each  other’s country.

v)   Both sides agreed to revisit their visa policy to make the procedure easy  for businessmen and nationals of each other’ country.

vi)  All matter relating to trade will be discussed in detail at the time of FTA  review which is expected to be held in August, 2011 in Colombo.

vii) State Bank of Pakistan and Ministry of Finance will communicate with concerned authorities in Sri Lanka for the purpose of providing necessary clarity/details regarding supplier credit of US$200 Million offered by State Bank of Pakistan to Sri Lanka.

viii) Pakistan reiterated its offer of long term educational facilities as well as short term training facilities under Pakistan Technical Assistance Programme (PTAP). Sri Lankan side appreciated the gesture and assured to utilize the facilities.

ix) Sri Lankan side also requested for training in the field of handicrafts including brassware, ceramics, leather, woodwork and hand loom fabrics etc. It was decided that concerned agencies will work together towards attainment of this objective.

x)  Pakistan delegation reiterated its earlier request that Pakistani students be offered training courses in the field of nursing. The Sri Lankan side assured to convey their response in due course.

Both sides agreed to constitute the Joint Committee for cooperation in Science & Technology.

Sri Lankan side agreed to send a delegation of technical experts for providing assistance to Pakistan in the field of gems.

The two sides also agreed to hold next meeting of the Joint Economic Commission in 2012 in Colombo.

The Meeting concluded with sincere desire from both the countries to intensify and promote bilateral cooperation.