KARACHI – Pakistan Sri-Lanka have exceptional bilateral relations however there are still need to be done for promotion of bilateral trade and economic relations by exploiting the existing opportunities to the maximum extent and exploring new avenues and hidden opportunities for tourism prospects. This was stated by Khalid Tawab Former Sr. Vice President FPCCI in a meeting with Dr. Bandula Gunawardana Sri Lankaan Minister for Trade at his residence.
Khalid Tawab elaborated that both the countries facing unprecedented challenges in conducting business-activities in the wake of COVID pandemic. Despite the lethal impact of the Covid-19 pandemic on all businesses in 2020 the total volume of bilateral trade stands to US S 460 million while exports from Sri Lanka to Pakistan in 2020 were reported to be $ 74 million out of which $53 million, or 73%, took place under the FTA, he added.
Khalid Tawab also spoke at length on FTA between both the countries and suggested that the Central Banks/State Bank of Pakistan and Sri Lanka should see the possibility allowing bilateral trade in local currencies through swap agreement which will double the bilateral trade volume. There are large number of issues standing in the way of smooth trade relations and the biggest one is the inability of both sides to establish connections between their respective business communities and policymakers.
Khalid Tawab also apprised the Sri-Lankan side about the ITI Cargo Train from Islamabad to Istanbul via Tehran. He also spoke about tourism prospects between both the countries, resumption of direct flights, ease of long term business and tourist visa on arrival. He suggested that both countries should organize single country exhibition on reciprocal basis which will significantly contribute in expansion of bilateral trade and interaction between the business communities of both countries.
