Trade delegation to visit Sri Lanka

KARACHI: A trade delegation of Korangi Association of Trade and Industry (KATI) will visit Sri Lanka soon.

Consul General of Sri Lanka, Sidath Kumar who visited KATI offices on Thursday extended invitation to the trade body.

The Sri Lankan diplomat speaking with the members of KATI said that despite trade between the two countries has increased but the real potential is yet to be exploited. He said bilateral trade between SL and Pakistan is not even one billion dollar, which is quite discouraging.

“The trade volume in the SAARC region is not even five per cent as compared to 25 per cent in ASEAN countries and 60 per cent in the European Union”, Kumar said.

He said that as per free trade agreement between the two countries was signed in 2002 and Sri Lanka granted duty free access of 102 items or tariff lines at 6 digit level while Pakistan reciprocated granting SL duty free access to 206 products or tariff lines at 6 digit level.

He invited Kati delegation should visit SL in order to increase bilateral trade.

Patron In-chief, KATI, S M Muneer stressed the need of increasing two-way trade and advised the Chairman, Sub Committee of Diplomat Affairs, Masood Naqi to coordinate between the SL Consulate and KATI to ensure visit of a full fledged trade delegation to SL.