‘Expo 2012 is fantastic’ says Pakistan biz, wants to enter SL’s booming construction sector

Expo 2012 offered a fantastic experience in Sri Lanka for visiting Pakistani business delegates. “Sri Lanka Expo 2012 was a fantastic experience for Pakistani businesses looking to partner with Sri Lankan businesses. Also, we were able to meet all the key stakeholders for entry such as the BOI, tourism and investment promotion officials at a single event,” said Pakistan’s Association of Builders and Developers (ABAD) Chairman in Colombo Mohsin Sheikhani.

Sheikhani was addressing Minister of Industry and Commerce Rishad Bathiudeen when his delegation made a courtesy call on Minister Bathiudeen recently at the Ministry of Industry and Commerce, Colombo. “We are keen for cooperation on construction sector in Sri Lanka. We like to provide our construction expertise and keen on investing in construction projects, especially infrastructure and urban property,” Sheikhani said.

Responding to Sheikhani, Minister Bathiudeen said, “We warmly welcome you to partner with us. I would especially encourage ABAD to consider starting on our tourism infrastructure, namely hotels. Shopping mall and condominium development are also sectors of growth.”  

According to the Department of Commerce of Sri Lanka, Pakistan is Sri Lanka’s second largest trading partner in the SAARC region after India. A substantial growth in bilateral trade is seen in both exports and imports, especially after Free Trade Agreement between the two countries was implemented in 2005. The value of total trade between the two countries has increased from $158 million in 2005 to $410.56 million in 2011.

The balance of trade has always been in favour of Pakistan. In December 2011, the Sri Lanka Cabinet approved a $15.6 million cement plant by Karachi-based Thatta Cement to be built at the industrial zone next to the Hambantota port.