Great scope for Pakistan to export cement to Sri Lanka

There is a great scope for Pakistan private sector to export cement to Sri Lanka to meet the ever increasing demand of cement as construction industry in Sri Lanka was rapidly growing with a reasonable pace.

President, Sri Lanka Federation of Chambers and Commerce and Industry, Nawaz Rajabdin who is also VP, SAARC CCI, on Monday was talking to his counterpart in Pakistan Iftikhar Ali Malik .

He said Sri Lankan government has offered special package of attractive incentives for investment from Pakistan under SAFTA and FTA. He said that Sri Lankan ministry of Textile and Industries Development has floated international tenders to import huge quantity of cement and Pakistan private sector can take full advantage.

Nawaz Rajabdin also discussed the issues of mutual interest while emphasising the two countries should effectively contribute towards promotion of bilateral as well as regional trade.

Iftikhar Ali Malik said Sri Lankan minister for Textile and Industries Development Kanera Valgam has assured him that Sri Lanka will fully encourage Pak private sector to export cement to his country at competitive rate.

Sri Lanka attached great importance to private sector of Pakistan in the region and signed free trade agreement with Pakistan on August 01, 2002 followed by signing of the protocol on Feb 09, 2005 and full implementation of the free trade agreement on June 12, 2005.

Another member of the delegation Shahzad Ali Malik, Chief Executive Guard Rice said that Pakistan has granted tariff rate quota (TRO) arrangements to Sri Lanka for export of 10,000 MT tea,1,200 MT betel leaves and 3 million pieces garments every financial year (July-June) while Sri Lanka has granted TRO arrangements to Pakistan for export of 6,000 MT Basmati Rice and 1,000 MT Potatoes for every calender year.

However, import of potatoes is permitted only during the off-season period in Sri Lanka.

Nawaz Rajabdin said 4-days recent visit of President SAARC CCI Tariq Sayeed to Sri Lanka which concluded on June 28 was most successful for having more one on one personal interaction with business community and trade leaders of two countries.

It may be mentioned here that it was a great honour for Pakistan that Tariq Sayeed, a Pakistani business leader and SCCI Chief was especially invited to inaugurate the first ever chambers competition awards 2008 ceremony, a prestigious event organised by the Federation of Chambers of Commerce and Industry Sri Lanka at Colombo on Friday (June 27).