Sri Lanka trade gap at $450m to $90m

KARACHI:

Pakistan's exports to Sri Lanka stand at approximately $450 million against roughly $90 million in the other direction, a gap the Sri Lankan Consul General in Karachi, PK Sanjeewa Pattiwila, said reflects untapped potential under a bilateral trade agreement signed in 2005 that already grants duty-free access to both countries.

He urged both sides to address trade-related technical barriers, review restrictive measures and strengthen business-to-business engagement to expand market access, according to a statement issued on Wednesday.

Speaking at the Karachi Chamber of Commerce and Industry (KCCI), he said both countries had adopted an overly defensive approach to trade, whereas businesses needed to pursue markets more aggressively.

"In the business world, we cannot always remain on the defensive. We must proactively pursue markets and break down barriers to unlock the true potential of bilateral trade," he said.

Pakistan exports cement and heavy materials, while Sri Lankan exports include betel leaves, electrical and electronic products, finished textile garments and, more recently, pineapples. He cited the facilitation of pineapple exports as an example of how targeted engagement could open new opportunities, and offered support on trade and visa matters.

KCCI President Talat Mahmood said the chamber and the consulate shared a responsibility to serve as a bridge between the two business communities, identifying pharmaceuticals, textiles, rubber products, plastics, engineering goods, surgical instruments and food processing as avenues for joint ventures.

"I want to see the available potential translated into tangible results on the ground," he said.