Financial Times

Sri Lanka-Pakistan FTA signed, sealed on Feb 8
President Chandrika Kumaratunga will sign a Free Trade Agreement with Pakistan on February 8, during a visit there this week, chamber officials said.

Macky Hashim, President, South Asian Chamber of Commerce and Industry and Nawaz Rajabdeen, President, Federation of Chambers of Commerce and Industries Sri Lanka will form part of the presidential delegation on this tour, officials said. Before leaving for Pakistan, Hashim told The Sunday Times FT that the FTA with Pakistan will give Sri Lankan trade and industry an opportunity to enter another big market in the region. The FTA with India has proven to be beneficial to most of Sri Lankan industries that have boldly gone into the Indian market and established trade and also investment.

Hashim said that Pakistan is renowned for its industrial prowess in the field of textiles, leather, sports goods, surgical items and other industrial products, besides agricultural commodities as well. "Investment in these industries in Sri Lanka in joint venture forms will help us to develop our industrial base," he said.

The Sri Lankan delegation would be in Pakistan on February 8-9 and there would be presentations made to the Pakistan business community on the Sri Lanka's investment opportunities.

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