Market-oriented policies helpful in boosting export: Sri Lanka CG says...
Consul General of Sri Lanka D W Jinadasa has said that the Sri Lanka believes in market-oriented policies helpful in increasing export trade with neighboring countries particularly Pakistan. He said that it is his first visit to Site Association of Industry (SAI) after joining the office in August 2010 because SITE area has very much potential, being the biggest industrial hub of the country.
He added that Sri Lanka encourages foreign investment. Sri Lanka's most dynamic sectors now are food processing, textiles apparel, beverages, port construction, telecommunications, insurance and banking. He said Sri Lanka offers friendly facilities and opportunities to investors - Land on lucrative terms and condition, less and affordable taxes, continuous power supply - hydro and thermal, water in abundance, logistic, transportation, shipment etc.
He said there are five direct flights from Colombo to Karachi and three flights from Karachi to Colombo in a week from Karachi. Businessmen/investors can reach Colombo within three and half-hours. There was no advance visa requirement for Tourists but for business purpose advance visas were required and the Consul office takes no time to issue the visas to genuine businessmen on the recommendation of the SAI. Pakistan and Sri Lanka have signed the Free Trade Agreement (FTA) in February 2005. Ever since, the two countries have seen a 70 per cent growth in business. However, the trade volume still stands at $300 million per annum which is a diminutive figure as compared to the available potential.
Expressing regret Consul General said that investment from Pakistan is not coming despite liberal investment policy. So many sectors are available for joint collaboration in Sri Lanka. He extended invitation to Pakistani investors to come to Sri Lanka and invest there. Pakistani investors can manufacture many products in Sri Lank that would qualify for duty free export to India under the FTA existing with India.-PR