Sri Lanka-Pakistan trade: Huge potential to grow
The potential for trade between Pakistan and Sri Lanka is somewhere between US$ 5 to $10 billion but based on the current annual results of just $350 million, the two countries need to work harder to achieve this potential.
Maj. Gen (Rtd) Dr. Shahid Ahmed Heshmat, Pakistan High Commissioner in Sri Lanka, made these remarks, when he addressed the Forum ‘Bilateral Trade between Sri Lanka and Pakistan’ at the National Chamber of Commerce of Sri Lanka (NCC) auditorium in Colombo last week.
He said that planning for trade should not be limited to just two, three or five years but should be planned well ahead for 25 years.
Sujeewa Samaraweera, President, NCC made the opening remarks. Continuing Maj. Gen. Heshmet noted that there has been access problems from both sides which is known and could be improved.
He indicated that Pakistan and China are working out a common corridor between the two countries which would see a massive investment of $60 billion, one of the highest in global terms. This could possibly spark apprehensions but these apprehensions are common in such situation, he said while pointing out that there were also apprehensions in Sri Lanka when such issues cropped up in Hambantota and in the Port City.
As far as Pakistan and China is concerned this economic corridor is a tremendous investment where, alongside many other developments, the 1000 km of road and railway network development connecting Indian Ocean and China would reduce cost and time in accessing exports.
During the question and answer time, some businessmen present pointed out the difficulties they have encountered in obtaining visas to Pakistan.
The high commissioner was emphatic that Pakistan and Sri Lanka has been connected by very strong historical relations between the two countries dating back to more than 2,000 years and only very few people knew that deep in the North of Pakistan there lies Buddhist civilization and excavations which have proved that there are Stupas at every 5 to 10 km and pointed out the need to intensify and diversify these relations, based on a common heritage.
He reminisced on the events of the freedom movement in Sri Lanka prior to 1948 Sri Lanka gaining independence and said that his country has supported the freedom movement in this country. He said that there is a place called Jinnah Hall set up in Kandy in commemoration of these events.
The activities between both countries are not confined only to traditional diplomatic ties, but he said that recently a ceremony was held at the BMICH to award 182 Jinnah Scholarships to 182 students at Rs. 45,000 each the total of which amounted to several millions of rupees.