LAHORE: A delegation from Sri Lanka visited the Punjab Board of Investment and Trade (PBIT) and discussed bilateral trade with Abdul Basit, the chairman of the board . Ranjith Bandara, Sri Lankan minister for public administration and management, Gamini Rathnayaka, CEO of Gal-Oya Plantations, Udyama Kurukularatne and Tousif Peracha, CEO of Gharibwal Group comprised the delegation.
The discussion focused around expanding trade and investment between the two countries. The delegation took interest in multiple small scale hydro-power generation units along canals. Gal-Oya is keen to invest in these units allover Punjab. The minister said that Sri Lanka is meeting 50 percent of its energy needs from such units and Pakistan has one of the largest canal systems in the word, so it can benefit greatly from the units.
The minister also said that trade balance between the two countries is 90 percent in favour of Pakistan as Pakistan’s exports to Sri Lanka being much greater than its imports.
Udyama Kurukularatne raised the point that the non-trade barriers between the two countries are the biggest hurdle in the way of free trade agreement.
The PBIT chairman proposed to enhance the spice trade as Sri Lanka is one of the biggest consumers of spices in the world. Both parties stressed the need for promoting tourism and collaboration in the fields of training and education.
It was also decided that Pakistan will send a business delegation to Sri Lanka in the near future and feasibilities will be shared with the Sri Lankan business community prior to the delegation’s visit so that concrete results can be obtained.
The delegation led by Minister for Public Administration and Management Ranjith Madduma Bandara also met Punjab Chief Minister Muhammad Shahbaz Sharif.
Matters of mutual interest, bilateral relations and promotion of cooperation in agriculture, education, health, tourism, skill development and public administration were discussed in the meeting. The Sri Lankan delegation expressed keen interest in investment in small hydel projects in Punjab.
