LAHORE: Sri Lankan President Maithripala Sirisena’s visit to Pakistan would further strengthen the economic ties between the two countries and help overcome poverty challenges.
In a statement issued here Monday, Lahore Chamber of Commerce & Industry (LCCI) President Ijaz A. Mumtaz said that visit of Sri Lankan president to Pakistan was an ample proof of sincere and longstanding friendship between the two countries.
Ijaz A. Mumtaz said that cordial relations between the two countries should be translated into the mutual trade ties. He said that there is a vast scope for the expansion of two-way trade between Pakistan and Sri Lank in the presence of Free Trade Agreement (FTA) between the two countries to further strengthen their multifaceted and multi-sectoral cooperation in the field of education, culture, commerce and trade, science and technology and tourism.
The LCCI President said that both Pakistan and Sri Lanka are lucrative investment destinations for each other’s exporters as on the one hand Pakistan is a gateway to resource-rich Central Asian States while on the other Sri Lanka enjoys duty-free access to huge European and Indian markets.
Ijaz A. Mumtaz called for collaboration in Construction, Sugar, Cement, Paper and Paper Board, Electronics, Software development, Food processing and Preservation, Dairy products, LPG cylinders and storage tanks, Mineral mining, handicrafts, gem and jewelry and livestock breeding.
He said that the business houses and diplomatic missions could always join hands to yield tangible results.
He said though there has been a substantial improvement in bilateral trade after the implementation of the FTA, there are still some potential areas, which need to be explored.
He said that Lahore Chamber of Commerce and Industry was making all-out efforts to increase the volume of two-way trade between Pakistan and Sri Lanka. However, there is a need that the Chambers of Commerce in the two countries should come forward to create a win-win situation for both the sides.
