Pakistan investment team to follow President’s visit

COLOMBO (EconomyNext) – Pakistan is to send an investment team to explore opportunities in the pharmaceuticals, cement and sugar sectors in the island following Sri Lankan President Maithripala Sirisena’s visit.

A Foreign Ministry statement said the decision was made by Pakistan’s Prime Minister Nawaz Sharif after talks with Sirisena who paid a state visit to Pakistan from 5th to 7th April 2015.

"On the economic front, the two leaders concurred that the full economic potential in the economic relationship is yet to be fully realized," it said. 

"It was agreed to progress with renewed efforts to further enhance economic cooperation within the existing mechanisms of the Joint Economic Commission  and the Working Groups on Trade in Goods, Investment, Auto sector and  Customs cooperation."

President Sirisena invited Pakistan investments to Sri Lanka particularly in the pharmaceuticals and medical devices, cement, sugar, IT and tourism sectors.

Sirisena also invited the Pakistan International Airlines to recommence flights to Sri Lanka to further bolster aviation links between the two countries.

During the visit, Sri Lanka and Pakistan signed six agreements covering disaster management, sports, shipping, cooperation between the atomic energy agencies, anti-narcotics and academic cooperation between Pakistan’s National Defence University and Sri Lanka’s Lakshman Kadirgamar Institute for International Relations and Strategic Studies.