Economic ties: Pakistan offers to build sugar mills in Sri Lanka

Nawaz Sharif offers that either the Pakistan government or its private sector could set up the sugar mills.

COLOMBO: In a bid to strengthen bilateral economic ties with Sri Lanka, Pakistan on Thursday offered to build sugar mills in the island nation.

The offer was extended during a meeting between premier Nawaz Sharif and Sri Lankan President Mahinda Rajapaksa, a statement released on Friday read.

During the meeting, both leaders agreed to further strengthen economic ties, especially increasing bilateral trade volume from present US $460 million to US $1 billion in the next few years.

In response to Sri Lankan President’s offer to invest in the sugar sector, Nawaz offered that either Pakistan’s government or the private sector could setup sugar mills in Sri Lanka.

They agreed that bilateral flow of investments could play an important role in boosting economic relations.

Nawaz also congratulated President Rajapaksa on successful hosting of CHOGM 2013. He appreciated the economic growth achieved by Sri Lanka since the end of the civil war in 2009 and how terrorism had been successfully eliminated from the country.