Three MoUs inked with Sri Lanka: Trade volume to be enhanced to $2bn

ZAHEER ABBASI

ISLAMABAD: Pakistan and Sri Lanka on Saturday inked three MoUs to promote cooperation in trade, technical education and media and agreed to enhance bilateral trade from current $370 million to $2 billion in the next three years.

Prime Minister Gilani and Sri Lanka's President Mahinda Rajapaksa witnessed the signing ceremony at the conclusion of bilateral talks and agreed to continue their cooperation in the fields of defence, agriculture, banking, shipping and tourism.

The first MoU was signed by Federal Minister for Information and Broadcasting Dr Firdous Ashiq Awan and Sri Lankan Minister for External Affairs Prof G L Peiris and envisaged enhanced media cooperation. Both the countries agreed to enhance exchange of news stories, special programmes and important publications to highlight the historical, cultural, social, sports and literature of the two countries through radio, TV, agencies and information establishments.

The two countries will also explore avenues for joint production of documentary films on topics of national and historical interest. Under this MoU, the two countries will also exchange of visits and training facilities of TV, radio and print journalists, as well as media managers and trainees.

The second MoU signed by Advisor to Prime Minister on Finance and Economic Affairs Dr. Abdul Hafeez Sheikh and Sri Lankan Minister for External Affairs Prof G L Peiris on behalf of their respective governments for credit of US dollars 200 million for improving Pakistan's export from Sri Lanka.

The third MoU was signed by Secretary Ministry of Professional and Technical Education Qamar Zaman Chaudhry and Secretary to President of Sri Lanka Lalith Weerathunga on behalf of Sri Lankan government for enhancing cooperation in technical training in different fields. Cooperation between National Vocational and Technical Training Commission (Navtec) of Pakistan and Tertiary and Vocational Education Commission of Sri Lanka was also envisaged.

At the opening of bilateral talks, Gilani congratulated Sri Lankan President on its achievements in the field of development and growth and stated that the Pakistani nation was happy that Sri Lanka was on the trajectory of 8 percent GDP growth. Sri Lank agreed to continue defence cooperation between the two countries for which Gilani stated that the concurrence of MoU by the Sri Lankan government may be expedited.

The two sides agreed to enhance effectiveness of a Joint Ministerial Commission aimed at increasing cooperation in all sectors compatible to their ties and decided to hold the next meeting of the Joint Ministerial Commission in Colombo in the current year.

Pakistan and Sri Lanka agreed to explore opportunities of investment in various sectors especially in the field of construction, education, agriculture and shipping, and banking; and State Bank of Pakistan (SBP) would discuss currency swap to boost trade between the two countries.

The establishment of National Bank of Pakistan in Sri Lanka was also discussed to facilitate in increase of trade between the two countries. Both the sides also agreed to enhance trade between the two countries up to two billion dollars during the next three years. The two sides emphasised on the need to exchange parliamentary and media delegations aimed at enhancing people to people contact to further strengthen relations between the people of the two countries.

Both the sides agreed to extend technical cooperation in the fields of agriculture and textile in which Pakistan has developed expertise.

Pakistan side included Minister for Foreign Affairs Hina Rabbani Khar, Adviser to Prime Minister on Finance Dr Abdul Hafeez Sheikh, Minister for Information Dr Firdous Ashiq Awan, Minister for State &Frontier Regions Engineer Shaukatullah, Chairman BOI, Secretaries Defence, Professional and Technical Training and Foreign Affairs, Pakistan High Commissioner to Sri Lanka and other senior officials.

Sri Lankan side included Minister for External Affairs Hon Prof G L Peiris, High Commissioner to Pakistan Air Chief Marshal Jayalath Weerakkody, Deputy Minister of Youth Affairs and Skills Development Duminda Dissanayake, Deputy Minister of Technology and Research Faiszer Musthapha and senior officials.