Sri Lanka and Pakistan establish special committee to boost trade

25 August 2015 02:55 am - 0 - {{hitsCtrl.values.hits}}

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Sri Lanka and Pakistan have established an ‘Advisory Stakeholders Subcommittee’ in a bid to boost trade between the two countries, which has seen a US$ 100 million slide during the past year.

Initiated by the Sri Lanka – Pakistan Business Council of the Ceylon Chamber of Commerce, the committee includes representatives of the High Commission of Pakistan in Sri Lanka, Department of Commerce, Sri Lanka Customs, Export Development Board, Board of Investment, Sri Lanka Tourism, Sri Lanka Tea Board, State Pharmaceutical Corporation and several Private Sector Corporate Companies as well as SME sector representatives doing business with Pakistan.

The inaugural meeting of the Committee was held early this week at the Ceylon Chamber of Commerce, which set the platform to discuss “a way forward” to help lift trade and investment between Sri Lanka and Pakistan.

During the discussion, it was noted that the existing FTA between the two countries has not been fully utilized. Non-tariff barriers imposed from both sides, lack of promotion of each country and non-adequacy in initiatives by the private sectors of both sides are the reasons for lack of growth in commercial ties between the two countries.

The meeting was preceded by the President of the SL – Pakistan Business Council Rohitha Thilakaratne, while Hassan Zaigham, First Secretary of the Pakistani mission in Sri Lanka, T.A.L. Weerasinghe, the Director of Customs, Samantha Wijesekara, Deputy Director of the Department of Commerce, Anoma Premathilake, Deputy Director of the EDB, Vidarshan Fernando, Actg. Executive Director of the Board of investment, P. Srikantha, Director of the Sri Lanka Tea Board, Dr. M.H.M. Rumie, Managing Director of the State Pharmaceutical Corporation and several business executives, whose firms are doing business with Pakistan took part.

The establishment of the ‘Advisory Stakeholder Committee’ comes following a meeting Sri Lanka – Pakistan Business Council had with the Pakistani High Commissioner in Sri Lanka, Maj Gen (R)Syed Shakeel Hussain, earlier in the year.

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Sri Lanka and Pakistan establish special committee to boost trade

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