Pakistani Trade Delegation Heralds Improved Bilateral Trade

The first trade delegation from Pakistan since the dawn of peace visited Sri Lanka recently. The 22 member trade delegation led by Syed Farukh Mazhar, the Secretary General of the Pakistan – Sri Lanka Business Forum participated at one-to-one business meetings organized by the Sri Lanka – Pakistan Business Council of the Ceylon Chamber of Commerce at which Minister Muhammad Raza Haroon, Minister of Information Technology, Government of Sindh and Bashir Ahmed Shaikh, Director General of Trade Development Authority of Pakistan were also present.

The meetings were chaired by Sega Nagendra, Vice President of the Sri Lanka – Pakistan Business Council and Ms. Lilakshini de Mel, Senior Assistant Secretary General represented the Secretariat of the Ceylon Chamber of Commerce.

V.S. Sidath Kumar, Consulate General of Sri Lanka in Pakistan (and patron of the Pakistan –Sri Lanka Business Forum) organised this visit in association with the Pakistan – Sri Lanka Business Forum. The Sri Lanka – Pakistan Business Council of the Ceylon Chamber of Commerce signed a MOU with the Pakistan – Sri Lanka Business Forum in 2005 in Islamabad and this is the second visit of a Pakistani trade delegation to Sri Lanka since then.

Speaking at the event, Nagendra pointed out that exports to Pakistan contributed to the economic growth in 2008 and comprised betel leaves, black tea, defatted coconut, rubber plates and graphite. The products that recorded a decline in the value of exports are desiccated coconut, pepper, fibre board of wood, nutmeg, maize and rubber tyres.

The import of textiles accounts for over 50 percent of imports from Pakistan to Sri Lanka. The other main items are agriculture products such as potatoes, rice, onions and pepper.

The Sri Lanka and Pakistan FTA came into effect from mid 2005. Nagendra also expressed hope the negotiations on a Comprehensive Economic Partnership Agreement would be successful and highlighted the need for active participation in all areas of cooperation – trade, services or investment.

The delegates included Iqbal Shekhani, Haresh Kaimal, Rehan Bhoja, Abdul Wahab, Ms. Tabassum A. Qadir, Ms. Tasneem Bandukwala, Anwar Ahmed, Muhammad Abdul Bari Qureshi, Syed Waqar Ahmed Shah, Muhammad Imtiaz Ahmed, Shroff Abdul Samad, Ms. Seema, Syed Qaiser Ali, Ather Iqbal, Zakiullah Khan, Mehtabuddin Chawla, Navaid ul Zafar, Nadeem Zamir and Nasir Khan.