Pakistani apparel company explores investment opportunities in Sri Lanka
A garment export company based in Lahore, Pakistan, M/S Zeitgeist, has recently explored investment opportunities in Sri Lanka’s apparel sector.The directors of M/S Zeitgeist had reportedly visited the Board of Investment of Sri Lanka (BOI).
During the meeting, BOI Chairman Eng. Raja Edirisuriya had briefed the Pakistani delegation on the investment opportunities in Sri Lanka and had highlighted the advantages offered to the textile/apparel industry, including the dedicated textile manufacturing park currently being developed in Eravur, Batticaloa.
According to reports, the delegation had visited the Katunayake Export Processing Zone (EPZ) and the Colombo Port City followed by a meeting with the Joint Apparel Association Forum (JAAF).
BOI Director General Renuka Weerakone and Executive Director Prasanjith Wijayathilake had also participated in the discussion.
M/S Zeitgeist is a manufacturer of yarn, fabrics, and garments. The high-quality garments are exported to the European Economic Community, the UK, and North America.
Sri Lanka and Pakistan enjoy strong bilateral and trade ties that have been further strengthened by a functioning free trade agreement (FTA). Pakistan has continuously improved trade ties with Sri Lanka and Pakistani businesses have brought in investments to the island. With Sri Lanka gearing to become a growing business destination in the South Asian region supported by an aggressive development programme carried out by the country, Sri Lanka presents a host of new business/investment opportunities. Sri Lanka also enjoys many trade agreements and concessions with other foreign countries that can be used by Pakistani businesses by setting up bases in Sri Lanka. Pakistani businesses could also look at forming partnerships or joint ventures with local businesses in a bid to expand existing operations.
|Article Code :||VBS/AT/07032022/Z_4|