Sri Lanka Trade Gap: Pakistan Exports $450m, Imports Only $90m

Sri Lanka – (Special Correspondent/Web Desk) – The Sri Lanka trade gap shows how much room both countries still have to grow their business ties. Pakistan sells about $450 million worth of goods to Sri Lanka each year. In the other direction, the figure is only around $90 million.

Sri Lankan Consul General in Karachi, PK Sanjeewa Pattiwila, said this gap points to untapped potential. He spoke at the Karachi Chamber of Commerce and Industry (KCCI), according to a statement issued on Wednesday.

A trade agreement signed in 2005 already gives both countries duty-free access. Even so, Mr Pattiwila feels the deal is not being used to its full strength.

He asked both sides to look at technical barriers to trade. He also called for a review of restrictive measures and stronger business-to-business contact.

The Consul General said both countries have been too cautious in trade. In his view, businesses must go out and look for markets with more energy. “In the business world, we cannot always remain on the defensive,” he said.

Pakistan mainly sends cement and heavy materials to Sri Lanka. Sri Lanka sells betel leaves, electrical and electronic goods and finished garments. More recently, it has also begun exporting pineapples.

Mr Pattiwila used the pineapple example to show how focused engagement can open new doors. He also offered support on trade and visa matters for business people.

KCCI President Talat Mahmood said the chamber and the consulate share one job. Both must act as a bridge between the two business communities.

He named several areas for joint ventures. These include pharmaceuticals, textiles, rubber products, plastics, engineering goods, surgical instruments and food processing.

Mr Mahmood also made his hopes clear. “I want to see the available potential translated into tangible results on the ground,” he said.