FTA between Pakistan and Sri-Lanka Under Utilized

The Consul General of Sri Lanka H.E G.L Gnanatheva visited FPCCI to meet Dr. Mirza Ikhtiar Baig, Senior Vice President, FPCCI to discuss bilateraltrade, investment and potential of Free Trade Agreement (FTA) between Pakistan and Sri-Lanka

Dr. Baig expressed his concern that inspite of Free Trade Agreement between both countries for the last 13 years, the trade between two countries  is only  $ 373 million out of which exports from Pakistan to Sri Lanka are $270 million and imports from Sri Lanka to Pakistan are $ 103, whereas in 2011 the trade volume was $ 512 million with exports  of $ 442 million and imports was $ 70 million which shows  a decline in trade volume between the two countries

He further added that there  exist a great potential of the exports of Rice from Pakistan but due to imposing quota  restriction from Sri Lanka to exports rice  only upto 6000 tons  per anum. Pakistan exporters could not encash the true potential. Dr. Baig requested Consul General to enhance duty free quota of rice to 25000 tons per anum.

The Sri Lankan Consul General desired to increase the exports of Sri Lankan Tea to Pakistan. Sri Lankan side will be organizing a seminar in February 2019 to be attended by the High Commissioner of Sri Lanka and senior officials of Sri Lankan Tea Board to inform exporters for the optimum utilization of FTA between Sri Lanka and Pakistan. Dr. Baig said that Sri Lanka is the only country with whom Pakistan has favorable trade surplus.
The meeting was also attend by the Vice Presidents, FPCCI Ismail Suttar ,Muslim Mohamedi, Waqar Mehmood Khan, Jamal Khan Achkazai, Kamal A. Mehmoodi and others.