Federal Minister for Commerce Engineer Khurram Dastgir Khan will visit Sri Lanka on a three-day official visit from Tuesday to boost bilateral investment and trade between the two friendly countries.
According to a press release, the minister would be accompanied by a high powered business delegation consisting of cement, pharmaceutical, food and beverage, sugar, shipping, construction and manufacturing sector companies.
The visit of the commerce minister is planned in furtherance to the understanding reached between Prime Minister Nawaz Sharif and Sri Lankan President Maithripala Sirisena, to take the bilateral trade and investment to new heights, during latter’s visit to Islamabad in April this year.
During his stay in Sri Lanka, he is scheduled to meet Sri Lankan President Maithripala Sirisena and Prime Minister Ranil Wickremesinghe.
The minister will also call on Sri Lankan Minister for Industry and Commerce Rishad Bathiudeen, Minister of Public Administration and Management Ranjith Madduma Bandara and Minister for Megapolis and Western Development Champika Ranawaka.
Khurram Dastgir will also participate in the first official high level Business Interaction Forum between the two countries organized by the Export Development Board of Sri Lanka. The Pakistan-Sri Lanka Business Interaction Forum is planned to be held in Colombo on November 11, with the participation of prominent business representatives of both sides.
The commerce minister has revitalized Pakistan’s trade diplomacy at the Ministry of Commerce. He spearheaded the successful campaign to obtain GSP Plus trade preferences for Pakistan from the European Union.
His vigorous diplomacy has led to start of Pakistan’s negotiations for free trade agreements with Turkey and Thailand.
Under his stewardship, the Ministry of Commerce has revamped national trade protection laws, obtained approval for Pakistan’s accession to TIR convention, and has successfully concluded institutional reforms of the Ministry itself as well as its attached departments. He has steered the drive for a qualitative shift towards value-addition and diversification in Pakistan’s exports.
Pakistan is the second largest trading partner of Sri Lanka in the SAARC region whereas Sri Lanka is the first country to sign free trade agreement (FTA) with Pakistan in July 2002 with its operationalization in June, 2005.
Pakistan is an important export market for tea, followed by copra, rubber, betel leaves and tamarind; similarly, for Pakistan, Sri Lanka is an important market for cement, GI Pipe, textiles, pharmaceuticals, machinery and agricultural items.
To showcase the whole range of Pakistan’s industrial sector to the Sri Lankan consumers, the Trade Development Authority of Pakistan is organizing Pakistan Single Country Exhibition in BMICH Colombo from January 15 to 17, 2016. More than 150 Pakistani companies are expected to participate in the exhibition.
