Commerce Minister leads high-level business delegation to Pakistan

Thursday, 7 April 2016 00:48 - - {{hitsCtrl.values.hits}}

Untitled-1 A 15-member Sri Lankan business delegation led by Minister for Commerce and Industry Rishad Bathiudeen left for Pakistan yesterday on a four-day official visit on the invitation of his Pakistani counterpart Engr. Khurram Dastgir Khan.

The Sri Lankan delegation, comprising of top textile and business groups, leading textile chain stores, wholesale dealers, importers of fabric as well as representatives of Chambers of Commerce and Industry, will be attending the first ever textile sector specific exhibition TeXpo Pakistan 2016.

The TeXpo 2016 is arranged by the Trade Development Authority of Pakistan in collaboration with the Ministry of Commerce Pakistan at Expo Center, Karachi from 7-10 April.

TEXPO 2016 will especially focus on the value-added textile products like high-end garments, hosiery, ready-made garments, knitwear, etc. As part of the expo, a fashion show will also be organised to display the strengths of Pakistani fashion and garments industry.

Cotton, home textile, fashion garments, leather items, tents and canvas goods as well as machinery will be amongst the products to be displayed at TEXPO 2016. The exhibition has attracted a large number of visitors from all over the world. B2B meetings will be arranged to attract foreign delegates to carry out business dealings during the exhibition.

The Minister for Commerce and Industry Sri Lanka will be the Guest of Honour at the textile specific exhibition. Bathiudeen also delivered a policy speech last evening at a reception arranged by the Trade Development Authority at the Governors House Karachi.

The Sri Lankan business delegates will also hold B2B meetings with their Pakistani counterparts apart from attending the exhibition.

An MOU will also be signed between the Sri Lanka-Pakistan Business Council and the Pakistan-Sri Lanka Business Council to enhance trade and investment between the two nations.

Pakistan is the second largest trading partner of Sri Lanka within the South Asian region. Textile is the major component of Pakistan Sri Lankan bilateral trade. The Sri Lankan apparel sector, sources raw materials from Pakistan.

Sri Lanka was the first country to sign a Free Trade Agreement (FTA) with Pakistan which became operational from 12 June 2005. Under FTA, Sri Lanka and Pakistan have agreed to offer preferential market access to each other’s exports by way of granting tariff concessions.