Your Excellency, Sri Lanka and Pakistan are two important nations in this region and have a formidable relationship that is based on mutual trust and confidence. This closeness is reflected in many levels such as, bilateral trade, joint diplomatic initiatives, friendly competitive sports, and citizen-to-citizen camaraderie. The time-tested friendship is periodically reinforced by the visits of the Heads of State and Government, by exchange of delegations, and by a commonality of views at several international fora. We present our compliments to the Sri Lankan government for the consistency in economic policies, for transparency in government dealings, and for endeavoring to bring about peace and tranquility in the region. We are of the firm opinion that good governance and a determined sense of direction is imperative for the well-being and prosperity of the denizens of SAARC nations.

Sri Lanka and Pakistan have a bilateral trade regime that does not positively reflect the true potential nor does it exhibit the genuine desire of the business and industrial communities of both the countries. Although both nations are traditional and important trading partners, the trade figures for 2003-04 are recorded at only US$ 146 million. Pakistan's exports to Sri Lanka amounted to US$ 98 million while imports are only US$ 48 million. However, it may be noted that the bilateral trade is increasing every year. Pakistan ranks 20th among suppliers to Sri Lanka while it ranks 28th among buyers of Sri Lankan goods.

Your Excellency, Pakistan Sri Lanka Business Forum is an initiative undertaken by His Excellency the High Commissioner who, in a meeting held in Karachi on February 05, 2004, the 56th National Day of your esteemed country, announced the vital need for a forum to bring the business communities of both nations onto a common platform. The tremendous support and motivation offered by the Consul General paved the way for the vision to be a reality. The Forum will have members who are committed to the enhancement of bilateral trade thru direct imports and exports, thru joint ventures, thru linkages, and thru facilitative undertakings.

Your Excellency, the signing of the Free Trade Agreement and its resultant benefits would depend on many other complementary factors. These include a closer liaison between the trade associations of both the countries, information sharing between the two nations, and comfortable and secure facilities for travelers. The trade associations have already embarked on mutual cooperation strategies, while endeavors are underway to promote and project the influence of both the SAARC member countries. Pakistan should take into consideration the Free Trade Agreement between Sri Lanka and India who took the giant step forward and inked the historical treaty on December 28, 1998 in New Delhi. Bilateral trade between India and Sri Lanka has grown by 128% after the FTA became operational in March 2000. Indian exports to Sri Lanka increased from $618 million to $1,319 million while Sri Lankan exports to India increased from $44 million to $194 million during the last four years. This means that Indian exports to Sri Lanka increased by 113% while Sri Lankan exports to India registered an increase of 342%. Indian exports account for 14% of Sri Lanka’s global imports. India is now the fifth largest export destination for Sri Lankan goods accounting for 3.6% of total exports.

Your Excellency, in Pakistan, we find Sri Lanka's achievements to be reassuring and supportive of our own efforts. We too face major challenges in creating sufficient productive employment for our people. And, we have come to understand this can only be achieved through a very strong environment for investment and productivity growth. Meeting the challenge of high growth in today's world means coping with the rapidly changing demands of the global economy. For Sri Lanka, as in Pakistan, this means ensuring that our economic strategies become much more democratic. Opportunities must be created so that we can invest and participate, directly, in the process of economic growth and development. High rates of growth cannot be sustained with only a few large players. There must be ample opportunities for new small and medium scale businesses to sprout up and, for some, to grow large and eventually succeed. Thus the imperative need for enhanced regional trade and cooperation.

Your Excellency, we have appreciated the commencement of flights by SriLankan Airlines between Colombo and Karachi. At present, there are three flights per week. We are of the opinion that flights between Colombo and Lahore should also be initiated. We request you to grant your approval for SriLankan Airlines flights to Lahore also as well as an increase in the number of weekly flights to Karachi. We also would like to state that the Forum has received feedback from those members who would like to participate in mega-construction development projects planned by your government, from those who are interested in setting up joint ventures in pharmaceutical enterprises, establishing flour mills, undertaking port and shipping endeavors, and in applying for permission for private airlines to cater to the Colombo-Karachi route, etc. The Pakistany fabric manufacturers are desirous of increasing their sales to Sri Lanka. We are also in favor of substantial increase in import of tea, coconut, rubber, and spices from Sri Lanka. There is a growing demand for skilled production managers, quality assurance managers, and skills development managers by many textile establishments. Moreover, there should be extensive tourist traffic between the two countries.

Your Excellency, taking advantage of this occasion, we also request the Pakistany government to reconsider its decision of excluding Sri Lanka from the list of Category ‘A’ countries whose citizens would be eligible for visas on arrival in Pakistan. Sri Lanka is one country that has always welcomed Pakistanys with open arms and provided on-arrival visas at the port of entry. We are sanguine that this facility would be unconditionally provided to our Sri Lankan brothers and sisters.

Your Excellency, we are grateful and appreciative of your presence here and thank you for meeting us, for enlightening us with your vision and your views, and for witnessing the formal signing of the Memorandum of Understanding between Ceylon Chamber of Commerce and Pakistan Sri Lanka Business Forum. We pledge before you that we would strive to enhance our bilateral trade regime, that we would attempt to be the bridge between the business community and the policy makers, and that we would endeavor to be united in the promotion and projection of our businesses, our cultures, and our nations.

Your Excellency, we also compliment you and whole-heartedly agree with your views expressed in your capacity as Chairperson of SAARC at the SAARC Summit in Katmandu, Nepal on January 05, 2002, where you stated that “we also need to mobilize those young people in every nation who have taken up arms and taken to terrorism against civil society and the State. We need to employ constructively the great energies of these young people and their immense commitment towards change in their societies. For this, we need visionary leaders. We need programs of action with an agenda focused to change radically the present distribution of wealth and power within nations and between nations.” We, the industrialists and businessmen, are dedicated towards this mission too and hope that the leaders of SAARC would formulate formidable and pragmatic policies to achieve your vision.

Your Excellency, we hope and pray that there is considerable economic prosperity, mutual goodwill, and regional security, so that the citizens of Sri Lanka and Pakistan can live in love, peace, and happiness.

Long Live Sri Lankan-Pakistan Friendship. Thank you very much.