Strong, untapped potential for trade agreements with India and Pakistan

There is a strong, untapped potential for trade and investment opportunities based on the FTAs with India and Pakistan, top trade experts said at the Sri Lanka Economic Summit 2007 held recently. Institute of Policy Studies Executive Director Dr. Saman Kelegama said a number of products were good choices for such opportunities.

“For India, prepared foodstuffs, animal or vegetable fats and oils, vegetable products, transport equipment, animal products are such products,” he said. He said textile and textile products, prepared foodstuffs, leather products, wooden articles, plastic and rubber products and vegetable products were more suited for Pakistan.

Dr. Kelegama said high preference point goods were hardly exported to Pakistan with the highest being 35 preference points.“This is because it is still a relatively liberalized market and we are still phasing out the tariffs,” he said.