Sri Lanka: ‘Trade likely to reach $1b in five years’

Real potential of bilateral trade between Sri Lanka and Pakistan yet to be explored, says Consul General.

KARACHI: The value of bilateral trade between Sri Lanka and Pakistan is likely to increase from the existing $252 million to $1 billion by 2015, according to the newly appointed Consul General of Sri Lanka in Karachi, DW Jinadasa.

Talking to journalists on Thursday, he said, “Politically and economically, our ties are sound and are further strengthening. The signing of the free trade agreement in 2002 and its implementation in 2005 were significant milestones in our bilateral relations. It has further consolidated, enhanced and strengthened our bilateral ties.”

The Sri Lankan diplomat said that the total turnover of trade, which was $158 million in 2005, had increased to $252 million in 2009, a fact that is quite encouraging. However, he said that the real potential of bilateral trade has not been explored yet.

Jinadasa said, “Given the special characteristics of our cordial relations, positive economic fundamentals and keenness at the highest level, followed by our close proximity, I strongly feel that this target is within our reach. I will extend every possible support to local as well as Sri Lankan stakeholders to boost bilateral trade.”

Published in The Express Tribune, December 17^th, 2010.