Starting work towards $1B trade goal: Rishad

Trade Development Authority of Pakistan Chief Executive SM. Muneer (far right) hands over an official token of appreciation to Lankan Minister of Industry and Commerce Rishad Bathiudeen as Pakistani Minister of Commerce Khurram Dastgir Khan (second from right) and High Commissioner of Pakistan in Sri Lanka Major General (Retd) Syed Shakeel (second from left) looks on at the inauguration event of Pakistan Single Country Exhibition on 15 January at BMICH, Colombo.  

In the successful conclusion of the recent visit of Pakistani Prime Minister Nawaz Shariff to Colombo just last week, Pakistan, Sri Lanka’s second largest trade partner in SAARC, unveiled its largest ever Single Country Expo to be held in South Asia in Colombo on 15 January.

 “The recent visit of our Prime Minister Nawaz Shariff has reinforced our commitment to Sri Lanka in a strong way and we are now looking to expand our trade with Sri Lanka greatly. This exhibition is another way we strengthen trade and economic relations for our mutual prosperity” said Pakistani Minister of Commerce, Khurram Dastgir Khan addressing the inaugural event.

The first ever single country exhibition by Pakistan in Colombo was held in 2008 on a small scale and without the Pakistani government’s backing. The Single Country expo unveiled in Colombo on 15 January is of much larger scale –in fact the largest ever single country expo by Pakistan in South Asia to date-and has the direct backing of the Government of Pakistan.

 “The recent successful visit of the Prime Minister of Pakistan Nawaz Shariff to Sri Lanka is one of the most important bilateral events to take place between both countries in recent times. As the Commerce Minister I am pleased to note that in addition to eight bilateral instruments another eight Memoranda of Understanding (MoUs) in promotion of Trade and Investment between the two countries, were signed during this visit. In fact there is no doubt that greater economic integration between our two nations should be welcomed since for example the present bilateral trade between both countries do not reflect the full trade potential. Last year our bilateral trade with Pakistan stood at $354 million,” said Minister Bathiudeen and added: “Pakistan is the second largest trading partner of Sri Lanka in the SAARC region after India. Our historic Free Trade Agreement helped to strengthen bilateral trade but we strongly believe that there is great potential for further improvement.

“It is in this background that both historic trading partners now aim for a $1 billion annual trade turnover in the coming two to three year time-line. Therefore the agreements concluded during the recent visit of the Prime Minister of Pakistan to Sri Lanka jointly witnessed by President Maithripala Sirisena, are welcome measures to speedily move towards this trade goal. What is important is to focus work to achieve this new trade target and move forwards. Among the ways of moving towards our the $1 billion trade goal is to enhance bilateral contacts through frequent exchange of delegations discussions forums and regularly conducting mutual country exhibitions such as the  Single Country Exhibition. 

“In fact I believe that from today with the launch of this exhibition we are starting the next stage of our new bilateral trade and economic cooperation efforts which was greatly enhanced by the recent visit of Prime Minister Nawaz Shariff. I have no doubts that this exhibition, while bringing the two countries closer, will also open our eyes to the new opportunities and potentials for our import and retail business communities as well.”

The Pakistan Single Country expo at BMICH packed 120 Pakistani firms displaying their merchandise-from CNG three wheelers, to ornate quartz handicrafts-and concluded yesterday.