Sri Lanka (Commonwealth Union)_ During the Pakistan Business Forum organized by the Sri Lanka-Pakistan Business Council (SLPBC) of the Ceylon Chamber of Commerce on July 19, 2023, several strategies were proposed to boost bilateral trade and investment. Accordingly, leveraging Free Trade Agreements and streamlining trade processes were highlighted as key measures to facilitate trade promotion. The forum was organized following a recent business promotion mission to Karachi by the SLPBC, which emphasized the importance of strengthening economic ties between the two countries and suggested a reciprocal business mission from Pakistan to Sri Lanka.
Collaborating with the Consul General of Sri Lanka in Karachi and facilitated by the Pakistan Sri Lanka Business Forum (PSLBF), the event welcomed esteemed guests, including Mr. Aslam Pakhali, President of the PSLBF; Mr. Jagath Abeywarna, Consul General for Sri Lanka in Karachi; Ms. Asmma Kamal, Trade & Investment Attaché; High Commission of Pakistan in Colombo; Mrs. Anoma Premathilaka, Head of Market Development, Sri Lanka Export Development Board; and other distinguished guests.
During the forum, Mr. S. Deivanayagam, President of the SLPBC, highlighted the existing trade statistics between Sri Lanka and Pakistan and underscored the untapped potential for further growth, which could be facilitated through events like the Business Forum. Further, the Pakistani delegation displayed keen interest in fostering trade and investment between the two countries, presenting vital strategies to achieve this objective.
Accordingly, utilizing the existing Free Trade Agreements and improving bureaucratic processes to streamline trade were identified as key drivers for facilitating trade between the nations. The delegation also expressed eagerness to forge partnerships for exporting products in sectors like footwear and leather, automobile components, rubber products, electrical and electronics, as well as services like ICT. These efforts signal a strong commitment to strengthening economic cooperation and bilateral relations between Sri Lanka and Pakistan.
