Sri Lanka needs to desperately revive sales to lost Pakistani market, trade says
Pakistani authorities were urged by Sri Lanka’s tea trade to resume purchases from Colombo which lost that crucial market to Kenya.
These views emerged at the 22nd AGM of the Sri Lanka Pakistan Business Council of Ceylon Chamber of Commerce in Colombo this week which entailed an interactive session titled “Pakistan trade towards US$1 billion”.
Rohitha Thilakaratne, President – Sri Lanka Pakistan Business Council, said that they lost this market to Kenya on a different variety of tea they produced (CPC) and they are doing their best towards winning this market again.
He said that the quantity they lost is huge.
The discussions pursued as to how to revive this substantial tea market and urged the intervention of Maj Gen (Rtd) Syed Shakeel Hussain, High Commissioner of Pakistan in Sri Lanka. Mr. Hussain said that both countries Sri Lanka and Pakistan have been maintaining good relationship and said pharmaceuticals, higher education, religious tourism etc have great potential and are important partners in promoting bilateral trade, economic interaction and also engage in promoting regional economic integration and trade through SAARC and SAFTA.
He pointed out that there is ample potential in the promotion of bilateral trade in such areas as textiles, basmati rice, engineering goods, fruits, food stuff, mineral products, debt and equity, machinery equipment, cotton yarn, woven fabric iron, steel, pharmaceutical products, rags, carpets industry, shoes, leather products, denim fabric and garments, leather garments, electronics and surgical items, petroleum, sugar, cement and automobile industry.
He extended an invitation to Sri Lankan business community to invest in energy, construction and resort development in Pakistan. He said that though there are ups and downs in bilateral trade, they are together with the Sri Lankan counterparts working to achieve the $1 billion goal soon.
Latest statistics indicate that in 2014 exports from Sri Lanka totalled only $80 million compared to exports from Pakistan to Sri Lanka which was $275 million.