As historic trade partners Sri Lanka and Pakistan positioned for a US $ 1 billion trade volume, Pakistani Commerce Minister is now scheduled to arrive in Colombo to take the process forward and the first business interaction forum between both countries is to be held next week in Colombo.

“We extend a warm welcome to Minister Khurram. We believe that there is great unrealised trade potential that we could jointly explore,” said Industry and Commerce Minister Rishad Bathiudeen.

Bathiudeen was addressing his top officials during his discussions with them on the forthcoming visit of Pakistani Commerce Minister Engr. Khurram Dastgir Khan to Colombo. Khan’s visit from November 10 to 11, facilitated by Minister Bathiudeen’s Commerce Department, is expected drive current bilateral trade to new levels. 

“We extend a warm welcome to Minister Khurram,” said Bathiudeen and added, “There has been continued trade growth between both countries. Still, we believe that there is great unrealised trade potential that we could jointly explore. We are facilitating several high-level courtesy calls for Minister Khurram. A highlight of this visit will be the first-ever business interaction forum to be held with the participation of business representatives of both sides.”

In 2014, bilateral trade between both countries stood at US $ 353 million. In January 2014, when the then Pakistan High Commissioner to Sri Lanka Major Genenral Qasim Qureshi called on Minister Bathiudeen at the Industry and Commerce Ministry, he stressed, “What we want to do is to expand bilateral trade from the present levels to US $  1 billion, in the coming years.”

Pakistan is the second largest trading partner of Sri Lanka in the SAARC region after India. The balance of trade is in favour of Pakistan.