Pakistan eases tariffs on three Lankan commodities
View(s):Pakistan has eased tariffs on three commodities it imports from Sri Lanka, the Commerce Ministry said this week.
“On behalf of Economic Development Minister Basil Rajapaksa, I thank the government of Pakistan for honouring Minister Basil Rajapaksa’s requests and reducing tariff on three Lankan export items. This is a step in the right direction as opportunities under our FTA are not fully utilised and it’s time to do so” said Rishad Bathiudeen, Minister of Industry and Commerce of Sri Lanka during a meeting with Maj Gen Qasim Qureshi, High Commissioner of Pakistan to Sri Lanka.
General Qureshi said the bilateral trade basket needs to be further diversified since it is concentrated around 4-5 major commodities. “For example, Pakistan has a big sugar industry but Sri Lanka does not import sugar from Pakistan. Also, exploring a formal mechanism for interaction of various bilateral business chambers is a way forward to boost our trade and more importantly, investments,” he added.
General Qureshi added: “Sri Lanka’s (import) tariffs are a problem for Pakistan. But we have eased our import tariffs on three commodities from Sri Lanka-namely crude coconut oil, betel leaves, and bottle cooling machines.”
Follow @timesonlinelk
comments powered by Disqus