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Business & Finance

Dawood urges Sri Lankan businesses to take advantage of opportunities in Pakistan

  • Highlighting the trade relations between the two countries since signing the Free Trade Agreement (FTA) back in 2005, the advisor was of the view that since then “our exports have doubled and are now around $400 million. This seems good, but I honestly feel not good enough it doesn't match the relationship that we have between our countries and I feel that it should be much better.”
24 Feb 2021

Advisor to Prime Minister on Trade and Investment, Abdul Razak Dawood has invited the Sri Lankan business community and take advantage of the opportunities available in Pakistan.

Addressing at Pakistan-Sri Lanka Trade and Investment Conference in Colombo organized by the Ministry of Commerce on Wednesday, Dawood said that the aim of this conference is to bring the business communities of the two countries together. “To be able to discuss and explore new ways new ideas of finding new avenues for a new opportunity to increase trade investment,” he said.

Highlighting the trade relations between the two countries since signing the Free Trade Agreement (FTA) back in 2005, the advisor was of the view that since then “our exports have doubled and are now around $400 million. This seems good, but I honestly feel not good enough it doesn't match the relationship that we have between our countries and I feel that it should be much better.”

He informed the Ministry of Commerce had a constructive meeting with the Sri Lankan Trade Minister, where they discussed all elements of the PTA and the idea of including services and investment as part of the FTA.

Dawood informed that they would meet again in April.

He said that Pakistan has offered the Sri Lankan government and businesses to open up a facility at the port city of Gwadar so that the exports from Sri Lanka can reach Gwadar, and from there go beyond the Central Asian republics and China.

“This movement of goods, under CPEC (China Pakistan Economic Corridor), is a futuristic opportunity today and I feel that it is a new frontier for businessmen of Sri Lanka and Pakistan,” he said.

Among others, Prime Minister Imran Khan and his Sri Lankan counterpart Mahinda Rajapaksa are also attending the conference.