Pakistan to receive Sri Lankan businessmen delegation

KARACHI: Sri Lanka to explore more avenues of cooperation and collaboration with the business community of Pakistan by sending a businessmen delegation, a diplomat said.

The Consul General (CG) of Sri Lanka Jagath Abeywarna has said that Sri Lankan trade minister will be bringing a delegation comprising representatives of around 40 to 50 companies to Karachi and Islamabad on January 23, 2022.

“The Sri Lankan delegation will explore the possibility of enhancing trade and investment ties with Pakistani counterparts, besides exploring tourism opportunities available in Pakistan,” Abeywarna said.

“Most of the Sri Lankan tourists, who have been regularly visiting India and Nepal, were not much aware of the historical Buddhist sites in Pakistan”, he added while exchanging views at a meeting during his visit to the Karachi Chamber of Commerce and Industry.

KCCI president Muhammad Idrees, vice president Qazi Zahid Hussain, chairman of diplomatic missions and embassies liaison subcommittee Ziaul Arfeen, former president Majyd Aziz, former vice president Shamsul Islam Khan and KCCI Managing Committee Members also attended the meeting.

The Sri Lankan CG sought KCCI’s cooperation in arranging B2B (business-to-business) meetings during the upcoming visit of the Sri Lankan delegation. “It is going to be a main activity as we haven’t received such a big delegation to Pakistan since long,” he said.

He also advised KCCI to arrange a similar delegation to Sri Lanka as exchange of trade delegations was the only way to improve trade and investment ties.

There is a lot of potential for two-way trade and investment ties between the two friendly countries. “As Pakistan has very strong pharmaceutical and textiles industries, these can be exported to Sri Lanka as we import almost all types of pharmaceutical products and fabrics,” Abeywarna said.

Pakistan and Sri Lanka are friendly nations who have been supporting each other in difficult situations. During the civil war in Sri Lanka, Pakistan was one of the main countries which provided assistance to Sri Lanka.

The CG assured that they will look into the possibility of inviting a maximum number of Sri Lankan companies to participate in My Karachi Exhibition which is scheduled to be organised at Karachi Expo Centre from February, 11 to February, 13, 2022.

KCCI president Muhammad Idrees, assured that the Karachi Chamber would warmly welcome and fully facilitate Sri Lankan delegation during their forthcoming visit to Karachi by organising B2B meetings.

He pointed out that Pakistan and Sri Lanka have been enjoying very cordial relations for many years. “Pakistan was the second largest trading partner of Sri Lanka in South Asia and we hope to become the first largest.”

Goods exported by Pakistan to Sri Lanka totaled $324.7 million while goods imported by Pakistan from Sri Lanka were recorded at $78.9 million, Idrees noted.

“The real trade potential was much higher than what the current statistics reveal and we are determined to unlock this potential through combined efforts and close coordination with the Sri Lankan side.”

He urged businessmen and investors to capitalise on the opportunities in the agriculture, textile, tourism, real estate, energy and IT sectors which were attractive investment sectors in both countries.

“Moreover, Sri Lanka has good skills to cut, polish and shape gemstones into world class jewellery. Jewellers in Pakistan can avail this opportunity by entering into joint ventures which would enable them to make world class jewellery,” idrees said.

He also stressed the need to boost air and maritime linkages between both countries so that cooperation in business and industry could be strengthened.

Pakistani products including pharmaceuticals, rice, fruits and vegetables, cement and garments have huge potential in the Sri Lankan market while Sri Lankan tea, wall tiles, floor tiles have great scope in Pakistan.