Sri Lanka and Pakistan to further strengthen economic and trade ties
President Maithripala Sirisena has expressed the need for further expanding economic relations between Pakistan and Sri Lanka and requested that Pakistan invest in Sri Lanka’s in sugar and cement industries due to the increase demand for these commodities in the island nation.
The President has made this observation when Pakistan’s Foreign Secretary Ms. Tehmina Janjua called on him at the Presidential Secretariat yesterday.
He has pointed out that currently Sri Lanka produces only 20 percent of the sugar requirement.
The Pakistan Foreign Secretary has assured that Pakistan would continue to assist Sri Lanka.
She has said that Pakistan will assist to take the economic and trade relationship between the two countries to a stronger level.
President Sirisena has reportedly recalled the long-standing bilateral relations between Sri Lanka and Pakistan and emphasized the need to further consolidate the relationship.
He has expressed gratitude for the assistance provided by Pakistan to Sri Lanka as a true friend and a brother, during the period of conflict in the country.
Janjua has said she had attended the UNHRC Session in Geneva in September and she was glad that she could speak in support of Sri Lanka at the forum.
She has said that Pakistan would assist Sri Lanka’s livestock and milk production sectors and programmes have been already formulated in consultation with Sri Lankan institutions.
President Sirisena has said that Sri Lanka would extend support to Pakistan to hold the next Summit of South Asian Association for Regional Cooperation (SAARC) and said it is important to strengthen SAARC to ensure regional cooperation.
OSL take:
The invitation by the Sri Lankan President to the Pakistan Foreign Secretary to invest in Sri Lanka’s sugar and cement industries and the assurance by the Secretary to further assist economic and trade relations between the two countries are positive aspects that could be explored by those interested in investing in the country. Sri Lanka already has a free trade agreement (FTA) with Pakistan and the continued assistance would help build investment opportunities in various sectors.
| Article Code : | VBS/AT/18102017/Z_5 |