Lankan Ranger
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Sri Lanka Pakistan CEPA Deal Soon
While admitting that the Sri Lanka-Pakistan Free Trade Agreement needs to be fast tracked, Pakistans first woman Speaker Dr. Fehmida Mirza said that a Comprehensive Economic Partnership Agreement (CEPA), was well within the grasp of both countries.
Speaking to The Island Financial Review at the conclusion of the 3rd Asian Regional Conference of the Commonwealth Parliamentary Association in Colombo last week, she said that continuing bilateral cooperation was the key to expanding on the immense scope that exists.
Asked why Sri Lanka-Pakistan trade was slow to achieve its full potential, despite the vast resources that are available, she said that hurdles if any, are meant to be cleared and it would not be difficult, considering the historic ties that exist between two long standing friends.
On Saturday Pakistan Airlines re-commenced flights to Colombo. It is also offering special packages for those who want to visit Sri Lanka for the Cricket World Cup. Frequencies have been scheduled for every Tuesday, Thursday and Saturday.
Pakistan has one of the most liberal trade and investment regimes in Asia and the ease of doing business was improving with new avenues being explored.
Agreement had been reached with Sri Lankan government to abolish the visa requirement for holders of diplomatic and official passport holders and also commence direct weekly air flights between the two capitals.
The Chairman of the Pakistan Board of Investment, Saleem Mandviwala, said that his country had become Sri Lankas second largest trading partner in Asia, with treaties on Free Trade, Bilateral Investments and Avoidance of Double Taxation, to facilitate the two business communities.
"We have offered Sri Lanka a soft credit of US$ 200 million for barter trade and easing of its business transactions. The visa regime for businessmen would also be liberalized, to facilitate free travel."
Development of trade, would be the key to eliminating militancy. There are 4000 items on the positive list of the Free Trade Agreement and only a small number in the negative list, he said.
Mandaviwalla, said that Pakistan offers all the concessions provided by Sri Lanka, including 100 percent equity, ownership and free repatriation of profits.
The decision to reinvigorate the Joint Economic Commission, following talks between the two Presidents Mahinda Rajapaksa and Asif Ali Zaradari, he said would enable among other things the issue of free business visas, launch of daily flights between the two countries and establishment of a branch of Pakistan National Bank in Sri Lanka.
The Island
While admitting that the Sri Lanka-Pakistan Free Trade Agreement needs to be fast tracked, Pakistans first woman Speaker Dr. Fehmida Mirza said that a Comprehensive Economic Partnership Agreement (CEPA), was well within the grasp of both countries.
Speaking to The Island Financial Review at the conclusion of the 3rd Asian Regional Conference of the Commonwealth Parliamentary Association in Colombo last week, she said that continuing bilateral cooperation was the key to expanding on the immense scope that exists.
Asked why Sri Lanka-Pakistan trade was slow to achieve its full potential, despite the vast resources that are available, she said that hurdles if any, are meant to be cleared and it would not be difficult, considering the historic ties that exist between two long standing friends.
On Saturday Pakistan Airlines re-commenced flights to Colombo. It is also offering special packages for those who want to visit Sri Lanka for the Cricket World Cup. Frequencies have been scheduled for every Tuesday, Thursday and Saturday.
Pakistan has one of the most liberal trade and investment regimes in Asia and the ease of doing business was improving with new avenues being explored.
Agreement had been reached with Sri Lankan government to abolish the visa requirement for holders of diplomatic and official passport holders and also commence direct weekly air flights between the two capitals.
The Chairman of the Pakistan Board of Investment, Saleem Mandviwala, said that his country had become Sri Lankas second largest trading partner in Asia, with treaties on Free Trade, Bilateral Investments and Avoidance of Double Taxation, to facilitate the two business communities.
"We have offered Sri Lanka a soft credit of US$ 200 million for barter trade and easing of its business transactions. The visa regime for businessmen would also be liberalized, to facilitate free travel."
Development of trade, would be the key to eliminating militancy. There are 4000 items on the positive list of the Free Trade Agreement and only a small number in the negative list, he said.
Mandaviwalla, said that Pakistan offers all the concessions provided by Sri Lanka, including 100 percent equity, ownership and free repatriation of profits.
The decision to reinvigorate the Joint Economic Commission, following talks between the two Presidents Mahinda Rajapaksa and Asif Ali Zaradari, he said would enable among other things the issue of free business visas, launch of daily flights between the two countries and establishment of a branch of Pakistan National Bank in Sri Lanka.
The Island
