Pakistan, Sri Lanka to increase trade volume to $2 billion


Pakistan and Sri Lanka Saturday signed three memorandums of understanding (MoUs) to enhance cooperation in trade, technical education and media, and also agreed to increase the trade volume to over $2 billion by 2015..
Prime Minister Yousaf Raza Gilani and Sri Lankan President Mahinda Rajapaksa observed the signing ceremony here at the Prime Minister’s House along with the members of their delegations.
The MoU seeking cooperation in media was signed by Information Minister Firdous Aishaq Awan and Sri Lanka’s Minister for External Affairs Prof GL Peiris, whereas the MoU for a credit of $200 million to increase Pakistan’s exports to Sri Lanka was signed by Peiris and Prime Minister’s Finance Adviser Dr Abdul Hafeez Sheikh on behalf of their respective governments. The MoU for cooperation in technical education was signed by Ministry of Professional and Technical Education Secretary Qamar Zaman Chaudhry and Secretary to the Sri Lankan president Lalith Weerathunga. Under the agreement to promote cooperation in media, both the countries will exchange news stories, special programmes and publications highlighting the historical, cultural and social aspects, and sports and literature through radio, television and print media. The two countries will also explore avenues to jointly produce documentary films on topics of national and historical significance. Under the MoU, the two countries will also exchange visits and training facilities of the TV, radio and print media journalists, media experts, media managers and trainees on reciprocal basis.
Joint Statement: A joint statement issued on the occasion said the two sides reached broad consensus on ways and means to further strengthen their bilateral cooperation in a comprehensive manner and on their common endeavours to promote peace and security in the region and the world. Both sides agreed to hold frequent summit level meetings, promote parliamentary exchanges and enhance the process of consultations, cooperation and coordination between their respective institutions.