Sri Lanka, Pakistan agree to boost trade, investment and entrepreneurship cooperation
Daily FT: Sri Lanka and Pakistan have agreed on a series of initiatives to strengthen bilateral economic cooperation, including expanding trade, promoting investment, enhancing entrepreneurship and facilitating technology exchange, following high-level discussions held at the Industries and Entrepreneurship Development Ministry.
The decisions were reached during a meeting between Industries and Entrepreneurship Development Minister Sunil Handunneththi and Pakistan’s High Commissioner to Sri Lanka, Major General (Retd.) Dr. Nayyar Naseer, on 3 July.
The discussions focused on deepening bilateral relations while creating new opportunities for trade, investment and entrepreneurship between the two countries.
Both sides agreed to implement exchange programs through the Entrepreneurship Development Authority with counterparts in Pakistan’s Punjab and Karachi regions. They also decided to initiate technology exchange programs in the gem and jewellery sector through the National Gem and Jewellery Authority.
The meeting also paid particular attention to reversing the decline in Sri Lanka’s tea exports to Pakistan and removing existing obstacles to facilitate the early commencement of pineapple and avocado exports to the Pakistani market.
As part of efforts to strengthen commercial ties, the two sides agreed to organise a special business forum in Pakistan with the support of the Export Development Board (EDB), enabling direct engagement between Sri Lankan exporters in selected sectors and Pakistani businesses.
The Pakistani High Commissioner also expressed interest in promoting Sri Lankan products in the Pakistani market, while discussions explored opportunities to further increase Pakistani investments in Sri Lanka’s pharmaceutical manufacturing sector.
The meeting was attended by Industries and Entrepreneurship Development Ministry Secretary Thilaka Jayasundera, Export Development Board Chairman Mangala Wijesinghe, Pakistan High Commission Trade and Investment Attaché Mahwash Sami, and senior officials from the Ministry and the Pakistan High Commission.
OSL take:
Sri Lanka’s strengthening economic partnership with Pakistan is creating new business/investment opportunities for businesses/investors from both countries. Building on long standing bilateral ties, recent discussions on expanding trade, promoting investment, fostering entrepreneurship and facilitating technology exchange signal a renewed commitment to deepening commercial cooperation. As Sri Lanka’s economy continues a growth trajectory, Pakistani businesses can explore business/investment opportunities across a range of sectors, including manufacturing, agribusiness, food processing, pharmaceuticals, textiles, logistics, renewable energy and ICT. The country’s strategic location in the Indian Ocean, improving business environment and access to regional and global markets make it an attractive destination for investment and business expansion. At the same time, Sri Lankan companies can leverage these strengthened ties by forming joint ventures and strategic partnerships with Pakistani enterprises, enabling technology transfer, market expansion and greater regional competitiveness. With both governments committed to enhancing economic engagement, the evolving partnership presents a strong platform for mutually beneficial trade, investment and long-term business collaboration.
| Article Code : | VBS/AT/20260710Z_2 |