LAHORE: SAARC Chamber of Commerce and Industry, Pakistan chapter Saturday said that the visit of Sri Lankan President Mahinda Rajapaksa to Pakistan would boost trade between the two countries.
Talking to newsmen at a three-day Indian Expo on Saturday at Expo Centre, SCCI CCI Chief, Pakistan chapter, and veteran trade leader, Iftikhar Ali Malik said that Sri Lanka was one of the most active members of SSARC countries in the region which not only supported but fully encouraged trade promotion among member countries including Afghanistan, Bangladesh, Bhuttan, India, Maldives, Nepal and Pakistan
He said still there was a vast scope to increase the volume of trade between both countries in science and technology, financial and banking, defence, agriculture, tourism and gem sectors with the active participation of private sectors of either side.
He said better economic cooperation with each other would ultimately benefit the people of both the countries.
He said that Pakistan was the second largest trade partner of Sri Lanka and trade stood at $375 million which he hoped would increase to the $ 2 billion mark within three years. He said that both countries must fully exploit their indigenous resources and trade potentials to help strengthen their economies.
Iftikhar Ali Malik said that Pakistan could export textile fabrics, mineral products, petroleum, foodstuffs, machinery and transport equipment to Sri Lanka. He said Sri Lanka had exported $ 7 billion products during year 2009-2010.
Regarding the Indian expo in the city, he said that exchange of technology and expertise between Pakistan and India in different sectors would help improve the quality of products and compete in international market. He said that Pakistan's total export in 2009-2010 was $18.33 billion compared to India's $168.2 billion during the corresponding period.
Iftikhar Ali Malik said that Pakistan would also hold a Pakistan Expo in New Delhi soon where Pakistani traders could display their products. He said such expos would provide an opportunity to others for manufacturing better products economically to suit their own requirements.
He stressed the need to harness indigenous resources in all SAARC member countries on top priority to meet future challenges and increasing food needs of the Asian population.
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