A top level 22-member delegation from Pakistan Sri Lanka Business Forum (PSLBF) is in town this week to explore trade and investment opportunities.This is the maiden delegation from PSLBF, which was incorporated a year ago during a visit to Pakistan by former President Chandrika Kumaratunga. Its counterpart here is Sri Lanka Pakistan Business Council under the Ceylon Chamber of Commerce (CCC).The delegation’s visit coincides with the CCC’s international style IMEXPRO mega three-day exhibition scheduled to open on Thursday.

Its members’ interests include airline industry, tourism, tea, textiles, shipping, furniture, pharmaceuticals, trading, bottled water, IT, freight forwarding etc.

Sri Lanka’s Trade Commissioner in Karachi Manel de Silva said that many members of the Pakistan delegation are visiting Sri Lanka for the first time.

It is led by the PSLBF President Abdul Rauf Tabani whose family owned company operates AEROASIA which flies on domestic and international routes.

New importers of tea and furniture which are items in the Sri Lanka Pakistan FTA (SLPFTA) intend meeting exporters with whom they have been communicating. The biggest sector in the delegation is textiles including manufacturers of yarn, fabric, household textiles. They will be exploring prospects for closer cooperation and investment in Sri Lanka.

The delegation will be calling on Trade Minister Jeyaraj Fernandopulle and Investment Promotion Minister Rohitha Bogollagama and participate at presentations by the Board of Investment and the Joint Apparel Association Forum, visit the Katunayake Export Processing Zone and the Dankotuwa Industrial Estate.

Individual members of the delegation are also scheduled to hold one to one meetings with interested business partners from Sri Lanka including blue chip conglomerates.

Pakistan with a growth rate of almost 8% is becoming one of the fastest developing economies in the region. Due to lack of awareness among the business communities Sri Lankans are not fully aware of the business opportunities which are immense. Already a number of Sri Lankan companies such as Expo Lanka, HTL Logistics, Expo Aviation, Softlogic have set up operations in Karachi and the latest to set up is MTI Consulting.

Sri Lanka's first Tea Center in the region will also be opened in Karachi shortly. This Center in the long run is expected to create a market not only for packeted teas, but also for the gift packages and flavour teas which are now known among the affluent strata and the younger generation.

In the light of the forthcoming state visit of President Mahinda Rajapaksa, the visit of the PSLBF delegation takes on added importance as they will be taking back their initial impressions and conveying them to the other business leaders in Pakistan.If opportunities between the two countries are tapped, Pakistan could become a major trading partner like India. Sri Lanka has the added opportunity that many Sri Lankans are already working in Pakistan and created a favourable impression of Sri Lanka. Teachers were among the first to work in Pakistan followed by those working in the textile sector as managers, and other skilled workers.

The number of skilled Sri Lankans in the highly modernised textile sector is increasing by the day. Many other companies are now recruiting senior managers from Sri Lanka for their various operations.

There is also great scope to promote tourists from Pakistan to Sri Lanka. Many Pakistanis are now discovering Sri Lanka’s tourist attractions, particulary after visa on arrival commenced. However lack of sufficient direct flights impede the growth in this sector. Pakistanis are great travellers who take their entire families overseas for annual holidays and go to Dubai for shopping regularly. Tourism industry experts are of the view that Sri Lanka could easily divert some of this Pakistan tourist traffic with more direct flights and aggressive tourism promotion.