Rawalpindi Chamber of Commerce in Pakistan keen on investing in Sri Lanka
The Morning: The visiting delegation of the Rawalpindi Chamber of Commerce and Industry (RCCI), comprising more than 100 delegates, are keen on identifying viable projects to invest in Sri Lanka.
Accordingly, aiming to further strengthen friendly ties between Sri Lanka and Pakistan and enhance bilateral trade relations between the two countries, the Ceylon Chamber of Commerce (CCC) recently signed a Memorandum of Understanding (MoU) with RCCI.
The MoU which was signed last month by CCC Chief Executive Officer (CEO) Manjula de Silva and RCCI Group Leader Sohail Altaf, was followed by the inking of nine agreements between Pakistani and Sri Lankan companies, in the areas of education, pharmaceutical production, automobiles, information technology, and automobile spares.
Minister of Trade Dr. Bandula Gunawardana, who was the Chief Guest at the event, stated that tourism and information technology are two sectors that could potentially be profitably developed between the two countries.
De Silva welcomed the opportunity to collaborate with the RCCI in order to further promote trade and commercial activities between the private sectors of the two countries.
The MoU will facilitate the dissemination of relevant information in order to enhance bilateral trade and business, including initiating and promoting joint ventures, partnerships, and other business linkages, as well as the provision of technical expertise, trade delegations between the two countries, and other economic promotion activities such as business webinars and business-to-business (B2B) meetings.
The CCC have to date signed 140 MoUs to expand and further strengthen strong relationships with overseas trade promotion organisations for the benefit of the business community in Sri Lanka.
OSL take:
Sri Lanka and Pakistan enjoy strong bilateral and trade ties that have been further strengthened by a free trade agreement (FTA). While Sri Lanka’s economy is expanding and the country is positioning itself as an emerging business destination in the South Asian region, Pakistani businesses/investors have expressed interest in exploring growing business/investment opportunities in Sri Lanka. The island is engaged in an aggressive development programme and key economic sectors have shown a steady growth momentum even amidst the Covid 19 pandemic. Also, foreign businesses/investors interested in doing business with Pakistan could look at setting up base in Sri Lanka to engage with Pakistan.
| Article Code : | VBS/AT/10012022/Z_3 |