INP-WealthPk

Pakistan, Sri Lanka Urged to Enhance Business-to-Business Ties

January 07, 2022

ISLAMABAD, Jan 07 (INP-WealthPK): Sri Lankan Consul General Jagath Abeywarna has sought the cooperation of Karachi Chamber of Commerce and Industry (KCCI) in arranging business-to-business (B2B) meetings when a trade delegation from his country visits Pakistan in January. The delegation comprising representatives of around 50 companies led by the Sri Lankan trade minister will visit Pakistan from January 23, 2022 to explore new avenues of cooperation and collaboration with Pakistan’s business community in different sectors, including tourism. “Most of Sri Lankan tourists, who have been regularly visiting India and Nepal, are not much aware of the historical Buddhist sites in Pakistan,” Mr Abeywarna said while talking to members of KCCI during a visit to the chamber, according to a press statement. KCCI president Muhammad Idrees, vice-president Qazi Zahid Hussain, chairman of KCCI’s diplomatic missions liaison sub-committee Ziaul Arfeen, former president KCCI Majyd Aziz, former vice-president Shams-ul-Islam Khan and KCCI managing committee members were present. Mr Abeywarna said this was rare that such a big delegation was visiting Pakistan after a long time. “I also urge KCCI to send a similar delegation to Sri Lanka as the exchange of trade delegations is a must to boost trade and investment in both the countries. The two countries hold great potential in bilateral trade and investment.” The diplomat said Sri Lanka imported all types of pharmaceutical products and fabrics from Pakistan, which had very strong pharmaceutical and textiles industries. He also promised to invite a maximum number of Sri Lankan companies to participate in ‘My Karachi Exhibition’, which will be held at the Karachi Expo Centre from February 11 to 13. On this occasion, KCCI president Muhammad Idrees said the chamber would facilitate Sri Lankan delegation during their forthcoming visit to Karachi by organising B2B meetings to further build on the cordial relations Islamabad and Colombo had been enjoying over the past many years. “Pakistan endeavours to become the first largest trading partner of Sri Lanka in South Asian region as currently Islamabad is the second largest trading partner of Colombo in the region.” Mr Idrees stressed the need for more efforts and further close coordination between Islamabad and Colombo to fully exploit the real trade potential existed between the two countries to improve on the current statistics. He pointed out that in 2020, Pakistan exported goods to Sri Lanka totalling at US dollars 324.7 million, and imported goods worth US dollars $78.9 million. “Businessmen and investors from both the countries need to capitalise on the opportunities in agriculture, textile, tourism, real estate, energy and IT sectors,” he stressed. “Pakistani jewellers should start joint ventures with their Sri Lankan counterparts to produce world-class jewellery as the latter has good skills to cut, polish and shape gemstones into fine pieces,” stressed Mr Idrees.