By Ishfaq A Mughal
Pak-Sri-Lanka Joint Economic Commission on Tuesday issued a joint statement after two-day meeting held in Islamabad. The meeting was held on 4-5 July, 2011.
Hina Rabbani Khar, Minister of State for Foreign Affairs, Finance & Economic Affairs led the Pakistan side whereas Mr. Rishad Bathiudeen, Minister for Industry and Commerce led the Sri-Lankan delegation.
Both the delegations acknowledged that relations between the two countries are based on shared understanding on a wide range of regional and international issues. During the JEC meeting discussions were held on promoting cooperation in various economic and technical fields. According to the joint statement after concluding the JEC both sides agree to hold Free Trade Agreement (FTA) review meeting and for setting up a Comprehensive Economic Partnership Agreement (CEPA). the negotiations will be held in next month (August), in Colombo. All matters relating to trade will be discussed in detail at the time of FTA review which is expected to be held in August, 2011 in Colombo.
ii. Holding of regular Joint Economic Commission meeting.
iii. Both sides agreed to encourage regular exchange of trade delegations at least one from each side in a year.
iv. To encourage their businessmen for participation in exhibitions in each other’s country.
v. Both sides agreed to revisit their visa policy to make the procedure easy for businessmen and nationals of each other country.
vi. All matter relating to trade will be discussed in detail at the time of FTA review, which is expected to be held in August, 2011 in Colombo.
vii. State Bank of Pakistan and Ministry of Finance will communicate with concerned authorities in Sri Lanka for the propose of providing necessary clarity/details regarding supplier credit of $ 200 million offered by State Bank of Pakistan to Sri Lanka.
viii. Pakistan reiterated its offer of long term educational facilities as well as short term training facilities under Pakistan Technical Assistance Programme (PTAP). Sri Lankan side appreciated the gesture and assured to utilize the facilities.
ix. Sri Lankan side also requested for training in the field of handicrafts including brassware, ceramics, leather, woodwork and handloom fabrics etc. it was decided that concerned agencies will work together towards attainment of this objective.
x. Pakistani delegation reiterated its earlier request that Pakistani students be offered training courses in the field of nursing. The Sri Lankan side assured to convey their response in due course.
Both sides agreed to constitute the Joint Committee for cooperation in science & Technology. Sri Lankan side agreed to send a delegation of technical experts for providing assistance to Pakistan in the field of gems.
iii. Both sides agreed to encourage regular exchange of trade delegations at least one from each side in a year.
iv. To encourage their businessmen for participation in exhibitions in each other’s country.
v. Both sides agreed to revisit their visa policy to make the procedure easy for businessmen and nationals of each other country.
vi. All matter relating to trade will be discussed in detail at the time of FTA review, which is expected to be held in August, 2011 in Colombo.
vii. State Bank of Pakistan and Ministry of Finance will communicate with concerned authorities in Sri Lanka for the propose of providing necessary clarity/details regarding supplier credit of $ 200 million offered by State Bank of Pakistan to Sri Lanka.
viii. Pakistan reiterated its offer of long term educational facilities as well as short term training facilities under Pakistan Technical Assistance Programme (PTAP). Sri Lankan side appreciated the gesture and assured to utilize the facilities.
ix. Sri Lankan side also requested for training in the field of handicrafts including brassware, ceramics, leather, woodwork and handloom fabrics etc. it was decided that concerned agencies will work together towards attainment of this objective.
x. Pakistani delegation reiterated its earlier request that Pakistani students be offered training courses in the field of nursing. The Sri Lankan side assured to convey their response in due course.
Both sides agreed to constitute the Joint Committee for cooperation in science & Technology. Sri Lankan side agreed to send a delegation of technical experts for providing assistance to Pakistan in the field of gems.
The two sides also agreed to held next meeting of the Joint Economic Commission in 2012 in Colombo.
The meeting concluded with sincere desire from both the counties to intensify and promote bilateral cooperation.
While talking to media, Ms Hina Rabbani Kher said that the tarrif issues between both contries will be resolved during Colombo meeting in next month as both sides will focus on FTA related issues and CEPA. Expressing full statisfaction over the meeting results, she said that both sides can boost bilateral trade and learn from each other's expretise in different fields.
The Sri Lanken Minister said that during recent years bilateral trade surged and it proves the effectiveness of FTA. He said that both side can cooperate to each others in the fields of science and technology, agriculture, capacity building of human resources etc.
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