Pakistan to get ‘services’ denied to India

[Gibbs]

Pakistan to get 'services' denied to India » The Nation

Sri Lanka has agreed to the inclusion of “services” in its Free Trade Agreement (FTA) with Pakistan, while opposing the inclusion of this sector in the Comprehensive Economic Partnership Agreement (CEPA) and the Economic and Technical Cooperation Agreement (ETCA) with India.

Pakistani Prime Minister Nawaz Sharif said here on Tuesday that Pakistan and Lanka have agreed to the inclusion of Services and Investments in their bilateral FTA.

Lankans fear that Indian professionals, including “barbers”, will flood Lanka in case services are included in bilateral economic agreements. But apparently, there is no fear of Pakistanis flooding the Lankan services market.

The reason for this is that while India’s economic presence in Lanka is widespread and heavy, the Pakistani presence is negligible. The India-Lanka bilateral trade amounts to US$4.6 billion with Lanka being a much smaller partner accounting for US$720 million. In the case of Pakistan, the total bilateral trade is itself only US$354 million with Pakistani exports accounting for US$280 million. While India has US$2 billion worth of investments in Lanka, Pakistan has virtually none.

The existence of an FTA with Pakistan since 2005 has only had a very limited impact. Lanka is not able to export much because its main items of export — tea, rubber, apparel and textiles — are in Pakistan’s negative list. Lanka also does not exploit the available market and quotas. Lanka exports only 36 items in a list of 156 items listed in the FTA.

While Pakistan has shown some interest in promoting trade and investment, Lankans have not responded enthusiastically. Dr Saman Kalegama, of the Institute of Policy Studies, attributes this to a lack of interaction between the businessmen of the two countries and absence of people to people contact.

 

[SpArK]

The reason for this is that while India’s economic presence in Lanka is widespread and heavy, the Pakistani presence is negligible. The India-Lanka bilateral trade amounts to US$4.6 billion with Lanka being a much smaller partner accounting for US$720 million. In the case of Pakistan, the total bilateral trade is itself only US$354 million with Pakistani exports accounting for US$280 million. While India has US$2 billion worth of investments in Lanka, Pakistan has virtually none.




The reason.

 

[Gibbs]

The reason for this is that while India’s economic presence in Lanka is widespread and heavy, the Pakistani presence is negligible. The India-Lanka bilateral trade amounts to US$4.6 billion with Lanka being a much smaller partner accounting for US$720 million. In the case of Pakistan, the total bilateral trade is itself only US$354 million with Pakistani exports accounting for US$280 million. While India has US$2 billion worth of investments in Lanka, Pakistan has virtually none.




The reason.

Fair dinkum but also because..

"Lankans fear that Indian professionals, including “barbers”, will flood Lanka in case services are included in bilateral economic agreements."

There are already issues with illegal Indian workers and tradesmen abusing the Visa on arrival facility provided to SAAC nations

 

[unbiasedopinion]

And then they say India is obsessed with pakistan.. Rather than having a headline just considering what they have got in the agreeement, the headline is written to show that Pakistani have achieved what India could not with Sri lanka....Totally defensive attitude indicating that every action of Pakistan is India centric.

 

[Gibbs]

And then they say India is obsessed with pakistan.. Rather than having a headline just considering what they have got in the agreeement, the headline is written to show that Pakistani have achieved what India could not with Sri lanka....Totally defensive attitude indicating that every action of Pakistan is India centric.

Errr. It's a Indian source mate.. I think you just counteracted your own claim

Lanka Includes Services in FTA With Pakistan, But Not In Pacts With India -The New Indian Express

 

[Sugarcane]

The reason for this is that while India’s economic presence in Lanka is widespread and heavy, the Pakistani presence is negligible. The India-Lanka bilateral trade amounts to US$4.6 billion with Lanka being a much smaller partner accounting for US$720 million. In the case of Pakistan, the total bilateral trade is itself only US$354 million with Pakistani exports accounting for US$280 million. While India has US$2 billion worth of investments in Lanka, Pakistan has virtually none.




The reason.

Another Reason

Lankans fear that Indian professionals, including “barbers”, will flood Lanka in case services are included in bilateral economic agreements. But apparently, there is no fear of Pakistanis flooding the Lankan services market.

 

[Gibbs]

Another Reason

Lankans fear that Indian professionals, including “barbers”, will flood Lanka in case services are included in bilateral economic agreements. But apparently, there is no fear of Pakistanis flooding the Lankan services market.

Also you could see the condescending remark afterwords, Especially since it's a Indian source

 

[Sugarcane]

Errr. It's a Indian source mate.. I think you just counteracted your own claim

Lanka Includes Services in FTA With Pakistan, But Not In Pacts With India -The New Indian Express

LOL!!! That was bitchslap

 

[Sipahi]

Also you could see the condescending remark afterwords, Especially since it's a Indian source

Pakistani loves West and middle east only

 

[Sugarcane]

I hope there will be proper safeguards to ensure that facility is not abused.

 

[Gibbs]

Pakistan to invest in cement, sugar plants in Sri Lanka | Economynext

ECONOMYNEXT – Pakistani companies will invest in building cement and sugar factories in Sri Lanka under a series of investment deals signed during Pakistan Prime Minister Nawaz Sharif’s visit to the island.

Eight agreements were signed with total investments exceeding 700 million US dollars.

Gharibwal Cement Ltd. of Pakistan signed a deal with Maxton Holdings of Sri Lanka to set up a cement plant in the island

Two Sri Lankan firms are to develop hydro power plants in Pakistan.

One agreement is between Sri Lanka’s Maxton Holdings and Paidar Energy of Pakistan to develop a hydro power plant in Pakistan.

Sri Lanka’s Eagle Power and Stellar Rock also signed a deal to develop a hydro power project in Pakistan.

Another agreement was between Sri Lanka’s Granada Suppliers and Pak Hy-Oils Ltd. for a lubricant blending plant.

Granada Suppliers also signed a deal with Pakistan’s Paidar Shipping and Trading for co-operation in shipping while Lanka Business Consortium signed an agreement with HKH Enterprise for deep sea fishing in Pakistan.

Almar Trading of Sri Lanka and Service Industries have signed a deal to set up a shoe manufacturing plant.

The Federation of Chambers of Commerce and Industry of Sri Lanka signed a memorandum of understanding with Aman Centre for Entrepreneur Development in Karachi. (Colombo/January 05, 2016)

 

[AZADPAKISTAN2009]

Good cooperation between regional countries to promote trade and economy and mutual respect for values of each other country

 

[Gibbs]

Sri Lanka, Pakistan mull currency swap, investment deal | Economynext

BILATERAL TRADE Prime Minister of Pakistan Nawaz Sharif (left) and Prime Minister of Sri Lanka Ranil Wickremesinghe unveiling the logo of the ‘Pakistan Single Country Exhibition 2016’ to be held from 15th to 17th January 2016 at the BMICH.

ECONOMYNEXT – Pakistan is considering a currency swap agreement with Sri Lanka and setting up a joint investment company, the visiting Prime Minister of Pakistan Nawaz Sharif said.

The two countries have also agreed to broaden their free trade deal to include investments and services sectors, he said at the launch of a Pakistan trade show in Colombo during his three-day visit to the island.

“The understandings we have reached today should bring new vigour and vitality to our relations,” he said.

“We are also examining the possibility of setting up a joint investment company and having a currency swap with Sri Lanka.”

Both countries were working towards expanding bilateral trade to a billion dollars, he said.

“We have agreed to include investments and services sectors in our bilateral free trade agreement,” Sharif said. “This marks a significant step in our relationship and should help expand our bilateral trade to new heights and create more jobs for the younger generation.”

He said over 100 Pakistani firms, including those involved in chemical, automobiles, food and beverages and pharmaceuticals, were taking part in the trade exhibition to be held from 15th to 17th January 2016 at the BMICH.
(Colombo/January 05, 2016)

 

[AbRaj]

Pakistan to get 'services' denied to India » The Nation

Sri Lanka has agreed to the inclusion of “services” in its Free Trade Agreement (FTA) with Pakistan, while opposing the inclusion of this sector in the Comprehensive Economic Partnership Agreement (CEPA) and the Economic and Technical Cooperation Agreement (ETCA) with India.

Pakistani Prime Minister Nawaz Sharif said here on Tuesday that Pakistan and Lanka have agreed to the inclusion of Services and Investments in their bilateral FTA.

Lankans fear that Indian professionals, including “barbers”, will flood Lanka in case services are included in bilateral economic agreements. But apparently, there is no fear of Pakistanis flooding the Lankan services market.

The reason for this is that while India’s economic presence in Lanka is widespread and heavy, the Pakistani presence is negligible. The India-Lanka bilateral trade amounts to US$4.6 billion with Lanka being a much smaller partner accounting for US$720 million. In the case of Pakistan, the total bilateral trade is itself only US$354 million with Pakistani exports accounting for US$280 million. While India has US$2 billion worth of investments in Lanka, Pakistan has virtually none.

The existence of an FTA with Pakistan since 2005 has only had a very limited impact. Lanka is not able to export much because its main items of export — tea, rubber, apparel and textiles — are in Pakistan’s negative list. Lanka also does not exploit the available market and quotas. Lanka exports only 36 items in a list of 156 items listed in the FTA.

While Pakistan has shown some interest in promoting trade and investment, Lankans have not responded enthusiastically. Dr Saman Kalegama, of the Institute of Policy Studies, attributes this to a lack of interaction between the businessmen of the two countries and absence of people to people contact.

Well done Srilanka

 

[karakoram]

Well done mian sahab you played your cards well.