KARACHI: Consul General of Sri Lanka Jagath Abeywarna has said that promoting trade between Pakistan and Sri Lanka in textile, leather and pharmaceutical sector is possible. Sri Lanka’s buyers can import goods from Pakistan instead of Europe will be more beneficial. Similarly, Pakistan can avoid additional shipping costs by importing products, including tea, from Sri Lanka.

Talking to Korangi Association of Trade and Industry (KATI) members Abeywarna said that trade between SAARC countries is only 5 percent, which needs further increase.  Joint efforts are needed to promote bilateral trade. Consul General said that combined trade volume is 400 million dollars out of which Pakistan exports 300 million dollars to Sri Lanka and 100 million dollars from Sri Lanka to Pakistan. 

KATI President Faraz-ur-Rehman said both countries could avoid foreign exchange pressure by trading in local currency. Trade delegations should be formed to increase trade. He said that Pakistan is second largest trading partner of Sri Lanka among SAARC countries. Pakistani products, especially pharmaceuticals, textiles and leather have a wide scope in Sri Lankan market. Likewise, there are opportunities for trade in Sri Lankan tea, tiles, etc. 

KITE Limited CEO Zubair Chhaya said that joint efforts of both countries to promote trade are only development solution. In this regard, holding business-to-business meetings is very important. Senior Vice President Nighat Awan, Vice President Muslim Mohamedi, former presidents Gulzar Firoz, Fazale Jalil and members were present.

Published in The Daily National Courier, November, 08 2022

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