Pakistan Commerce Minister happy with Lanka trade

Saturday, 9 July 2011 00:56 - - {{hitsCtrl.values.hits}}

ISLAMABAD, (APP): Minister for Commerce Makhdoom Amin Fahim said Thursday that during 2010, exports from Pakistan to Sri Lanka stood at US $ 283.142 million, while Pakistan imported goods worth US $ 54.602 million from Sri Lanka.

This was stated by the Federal Minister for Commerce Makhdoom Amin Fahim, while addressing a dinner party held in honour of the visiting Sri Lankan trade delegation headed by its Minister for Industries and Commerce, Rishad Bahtiudeen.

The pace of growth was encouraging for both the countries, he said adding Pakistan’s exports are mainly rice, fish, cotton yarn and pharmaceutical goods etc. while imports are limited mainly to tea, fruits and seeds etc.

The minister said creating awareness among the business communities of the two countries about the benefits available to them from the Pak-Sri Lanka Free Trade Agreement (FTA) and South Asian Free Trade Area (SAFTA) is an effective way to leveraging bilateral and regional trading arrangements.

Makhdoom Amin Fahim termed the 10th Joint Economic Commission session between Pakistan and Sri Lanka as a welcome development and expressed, Pakistan looks forward to progress on all outstanding commercial and economic initiatives between the two countries.

Both the counties may extract maximum trade and commercial benefits from the bilateral, regional and multilateral arrangements for the betterment of their people, Amin Fahim stated.