Sri Lanka, Pakistan mull currency swap, investment deal
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)