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Pakistan, Sri Lanka to restart trade talks – Journal

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ISLAMABAD: Pakistan and Sri Lanka have agreed to reactivate the Joint Working Group (JWG) to resolve outstanding technical issues between the two trading partners, the Ministry of Commerce (MoC) said on Saturday.

The agreement was reached during the seventh session of trade secretaries-level discussions between the two countries. The virtual meeting took place on February 18, ahead of Prime Minister Imran Khans’ visit to Sri Lanka on February 23 and 24.

An official announcement said that it had been decided to hold the next meeting of the JWG in the first half of 2021. The two sides further agreed to strengthen cooperation in trade-related issues so that the true potential of the agreement free trade can be effectively exploited.

The Pakistani delegation was led by MoC Special Secretary Dr Muhammad Sohail Rajput, while the Sri Lankan side was represented by Ministry of Commerce Secretary JM Bhadranie Jayawardhana.

Delegates engaged in productive and meaningful discussions on strengthening trade ties and resolving trade barriers. Prospects for enhancing trade through mutual cooperation and facilitation were also discussed, according to the Commerce Ministry announcement.

The secretaries stressed the need to use this forum to further strengthen existing bilateral trade and investment ties and expressed their commitment to strengthen trade relations by removing various obstacles.

The secretaries approved the text of the memorandum of understanding in the area of ​​investment and decided that it would open up new avenues for bilateral investment. The meeting ended with the commitment to expand and consolidate bilateral relations between the two countries.

The Sri Lankan side acknowledged that Pakistan was a long-standing trading partner, a closer ally and the country looked forward to the Pakistani prime minister’s next visit to Colombo, the announcement added.

Posted in Dawn, February 21, 2021

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