Pak-Sri Lanka hold FTA review meeting

Islamabad: The fifth technical level meeting on Pakistan-Sri Lanka Free Trade Agreement (PSFTA) was held in Islamabad from 29-30 April, 2013.

The meeting was co-chaired by Munir Qureshi, Secretary, Ministry of Commerce, Government of Islamic Republic of Pakistan and Anura Siriwardena, Secretary, Ministry of Industry and Commerce, Government of Democratic Socialist Republic of Sri Lanka.

Qureshi attributed the successful working of PSFTA as a result of dedication, hard work and spirit of accommodation displayed by both sides. He, however, noted that the present trade figures were far below the trade potential of the two countries and emphasised upon the need to enhance the existing level of trade and commerce through greater interaction.

He further evinced keen desire to broaden and deepen the PSFTA by including investment and services in its ambit. The Secretary hoped that the fifth technical level PSFTA meeting in Islamabad would play a vital role in devising ways and means to give a much-needed boost to existing volume of trade.

Siriwardena expressed gratitude for the warm welcome and excellent hospitality extended to him and his delegation since their arrival in Pakistan, and shared the views of the Commerce Secretary of Pakistan relating to deepening of PSFTA.  He said that there was a strong urge for augmenting bilateral trade. He, however, was also of the view that much remained to be done to realise the actual potential of bilateral trade. He said that the key to move forward would be to create a high level of awareness of the opportunities provided by the agreement to the business community.