KARACHI: The Trade Development Authority of Pakistan (TDAP) will organise a single-country exhibition in Sri Lanka from January 15-17, 2016, aimed at promoting the country’s products and showcase its potential to increase bilateral trade volume.
The event will be organised at the BMICH, a major exhibition centre, in Colombo, and is expected to attract a large number of exhibitors and participants. The High Commission of Pakistan in Sri Lanka is making efforts to make this event a success, added the TDAP release.
The decision to organise single-country exhibitions was taken during the recent visit of the Pakistan president to Sri Lanka.
According to TDAP, renowned companies from textile, agriculture, engineering, marble and granite, handicrafts, garments and accessories and the jewellery sector will participate in the event.
It is pertinent to mention that the Free Trade Agreement (FTA) between Pakistan and Sri Lanka has been operational since June 12, 2005. Under this agreement, Sri Lanka and Pakistan have agreed to offer preferential market access to each other’s exports by way of granting tariff concessions.
Pakistan Business Council (PBC), a research-based business advocacy forum that represents Pakistan’s 47 largest businesses, recently conducted a study in which it said that despite favourable terms in the FTA and healthy export markets, Pakistan and Sri Lanka had failed to improve bilateral trade.
The report titled, ‘An assessment of the Pakistan-Sri Lanka Free Trade Agreement’, revealed that Pakistan and Sri Lanka had the potential to increase bilateral trade over six times, from the current value of $380 million to $2.7 billion, by just effectively utilising their FTA.
Published in The Express Tribune, October 1st, 2015.
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