Enhanced interaction among Pak, Sri Lankan trade bodies emphasised
Friday, 14 March 2014 06:44
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AAP: KCCI President Aamir Abdullah Zaki and Sri Lanka’s Consul General H.M.B. Herath on Wednesday emphasised on enhanced interaction especially among trade bodies of the two countries including exchange of trade delegations for promoting bilateral trade and investment.
Both the countries should take further practical steps to strengthen economic cooperation for the benefit of both the nations, they said.
The Sri Lankan Diplomat called on the President of Karachi Chamber of Commerce and Industry (KCCI) to discuss various issues of mutual interest mainly relating to the bilateral trade and investment, and for promoting close liaison between his Consulate and KCCI including exchange of information about potential trade and investment avenues existing on both the sides.
KCCI Senior Vice President Muffasir Atta Malik, KCCI Vice President Muhammad Idress, former KCCI President Majyed Aziz, the Chairman of KCCI’s diplomatic committee , Chairman of KCCI’s export trophy awards committee Agha Shahab Ahmed Khan, President, Pakistan-Malaysia Friendship Association, Shahid Jawed Qureshi, the Secretary General of KCCI, members of Managing Committee also attended the meeting. Commercial Assistant to the Consul General of Sri Lanka Siddique Sattar was also present.
The Lankan Consul General informed that his country was going to sign FTA with China.
On points made by KCCI President Aamir Abdullah Zaki, the diplomat agreed that there should be proper follow ups for the resolution of trade disputes among Pakistan and Sri Lankan companies and these should be settled amicably.
The KCCI Chief said the bilateral trade relations of Pakistan and Sri Lanka are based on mutual cooperation. In the fiscal year 2012-13, Pakistan’s exports to Lanka amounted to $ 344.71 million and the imports figured at $ 67.06 million. The balance of trade stood in favour of Pakistan which is the second largest trading partner of Sri Lanka in South Asia.
He said Sri Lanka was the first country to sign free trade agreement (FTA) with Pakistan which became operational in June 2005. The KCCI President highlighted the role of the Karachi Chamber in promoting trade and investment within and outside the country. The Chairman of KCCI diplomats committee underlined the need for value-addition in many things already going on between both the countries.
Former KCCI President Majyed Aziz emphasised on promoting religious tourism in both the countries through trade bodies including their travel agents associations.
He said that Sri Lanka should launch its banking network in Pakistan and India to facilitate trade between the two countries which presently is being done through third country banks. This would also greatly help in promoting trade in SAARC region.
