Sri Lankan President Maithripala Sirisena’s visit to Pakistan would further strengthen the economic ties between the two countries and help overcome poverty challenges, Lahore Chamber of Commerce and Industry said.

In a statement issued on Monday, LCCI President Ijaz A. Mumtaz said that cordial relations between the two countries should be translated into the mutual trade ties, The News International reported. There is scope for bilateral trade expansion under the Free Trade Agreement (FTA) to further strengthen multifaceted and multi-sectoral cooperation in the field of education, culture, commerce and trade, science and technology, and tourism, he said.

The LCCI president called for collaboration in construction, sugar, cement, paper and paper board, electronics, software development, food processing and preservation, dairy products, LPG cylinders and storage tanks, mineral mining, handicrafts, gem and jewellery, and livestock breeding.

He said that the business community of the two countries should keep on exploring the opportunities of mutual interest. Business delegations composed of sector-specific participants or product-specific group of entrepreneurs should be organised regularly. Mumtaz also said the ideal and friendly relationship between Pakistan and Sri Lanka is based on historical and cultural links as well as common understanding on a wide range of bilateral, regional and international issues.

He said though there has been substantial improvement in bilateral trade after the implementation of the FTA, there are still some potential areas, which need to be explored.
(With inputs from The News International)