Leveraging Free Trade Agreements and streamlining trade processes to facilitate trade promotion were among key strategies suggested to enhance bilateral trade and investment, at the Pakistan Business Forum hosted by the Sri Lanka - Pakistan Business Council (SLPBC) of the Ceylon Chamber of Commerce at the Cinnamon Grand last week.
The Business Forum follows a recent business promotion mission to Karachi conducted by the SLPBC, where the Council’s leadership emphasised the significance of fostering exchanges and strengthening economic ties between the two countries, and proposed that a business mission from Pakistan visit Sri Lanka.
It was organised in collaboration with the Consul General of Sri Lanka in Karachi, and facilitated by the Pakistan Sri Lanka Business Forum (PSLBF), which is the counterpart organisation in Pakistan of the SLPBC.
President of the PSLBF, Aslam Pakhali, Consul General for Sri Lanka in Karachi, Jagath Abeywarna, Trade and Investment Attaché, High Commission of Pakistan in Colombo, Ms. Asmma Kamal and Head of Market Development, Sri Lanka Export Development Board, Mrs. Anoma Premathilaka were present.
President of the SLPBC S. Deivanayagam outlined the trade statistics between Sri Lanka and Pakistan, and emphasized the potential for further growth, facilitated by events such as the Business Forum.
The delegation from Pakistan expressed interest in developing trade and investment between the two countries and suggested key strategies to facilitate this.
These include leveraging Free Trade Agreements between the two countries, and enhancing bureaucratic processes and streamlining trade processes to facilitate trade.
The delegation also expressed interest in fostering partnerships for export in sectors such as footwear and leather, automobile components, rubber products, electrical and electronics, and services exports such as ICT.