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Asian Tribune is published by E-LANKA MEDIA(PVT)Ltd. Vol. 20 No. 108

Sri Lanka Pakistan Business Council to strengthen trade ties

By Quintus Perera - Asian Tribune

Colombo, 11 July, (Asiantribune.com):The Sri Lanka Pakistan Business Council held its Annual General Meeting at the Ceylon Chamber of Commerce last week with High Commissioner of Pakistan in Sri Lanka, Shahzad A. Chaudhary as Chief Guest.Mahen Dayananda, Chairman, CCC handing over the Chamber 160 book to Shahzad A Chaudhary High Commissioner of  Pakistan in Sri LankaMahen Dayananda, Chairman, CCC handing over the Chamber 160 book to Shahzad A Chaudhary High Commissioner of Pakistan in Sri Lanka

Addressing the Business Council AGM, Gulam Chatoor, President of the Council stated that the Secretariat had compiled statistics shown in the Annual Report which indicated that there was a scope for Sri Lanka to export large quantities of Tea, Rubber and Betel Leaves to Pakistan and import more Cotton, Plastic, Fish, Glass and Fruits from Pakistan following the tariff connections introduced by the FTA between the two countries.

He added that the Council members should take advantage of its affiliation to the Ceylon Chamber of Commerce which has a history of over 160 years and has an infrastructure second to none been when compared with other Chambers in the world. This affiliation to the Chamber, he pointed out, enables the Council to reach out to over 1000 entrepreneurs. Chatoor said that theywork on these positive factors and move forward to expand more trade, both ways, between the two countries.

Pakistani Ambassador, Shahzad Chaudhary as Chief Guest said he recommended the members look beyond the traditional items that are being traded, because, he argued that the human base is fixed, as one can only sell that much of Tea or betel leaves to Pakistan just as much as there is a limit on the potatoes one can import from Pakistan.

He emphasized that one should look at, getting down larger quantities of Yarn or Textiles from Pakistan converting them into garments in Sri Lanka and exporting as garments. The more garments Sri Lanka exports, the greater will be the growth achieved by her.

Similarly, another advantage would be the GSP + facility enjoyed by Sri Lanka where nations having the FTA with Sri Lanka can utilize, in order to achieve growth, such activities would have to be brought into play, Chaudhary added.

Talking about the Pakistan's economy, the ambassador stated that Pakistan has` recorded an average growth of 7 to 7.5 percent for the last four years. There has been a very heavy investment growth in the last financial year; FDI has been in the region of U. S. $ 6.5 billion.

Mahen Dayananda, Chairman, CCC and Ms.Manel De Silva, Director General, Commerce Department who was lately the Trade Councellor in Pakistan also spoke.

Gulam Chatoor who was the President Pakistan-Sri Lanka Business Council for the last 16 years was relived as one of the vice-Presidents, Lalin Fernando was elected the President Sega Nagendra and Mrs. Zahara Cader were elected as Vice Presidents. The Committee: Habib Bank Ltd, Mercahnt Lanka Mansel (Ceylon) Ltd, NKar Sky Clan (Pvt) Ltd, Packages Lanka (Pvt) Ltd Saboor Chatoor & Co. Ltd, Sinwa Holdings Ltd, SPI Fashions (Pvt) Ltd and Union Bank Ltd. (Incorporated in Pakistan).

- Asian Tribune -

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