Colombo, 27 November 2021 (TDI): 33rd International Awards and Business Opportunities Conference in collaboration with Rawalpindi Chamber of Commerce & Industry (RCCI) was held in Colombo.
Mahinda Rajapaksa, the Prime Minister of the Democratic Socialist Republic of Sri Lanka convened the International Achievement Awards ceremony as the Chief Guest. He also presented awards and recognized leading entrepreneurs of Pakistan.
While addressing the audience, Mahinda Rajapaksa recalled the visit of Pakistan’s Prime Minister, Imran Khan to Sri Lanka in February 2021 and highlighted the bilateral relations between the two states.
He underscored that the visit further strengthened the cooperation between the two countries in various sectors such as trade and investment, culture, science and technology, and defense.
Mahinda Rajapaksa also highlighted the long-term historical ties between Pakistan and Sri Lanka, which are further strengthened by the vast and rich Buddhist heritage preserved in various parts of Pakistan.
Aside from that, he welcomed Pakistan’s initiative in expanding bilateral trade, investment, and economic cooperation and encouraged the longstanding warm ties between the two states. He expressed his views regarding the Free Trade Agreement between the two states and its implications on their mutual relations.
However, constant efforts are required to ensure the utilization of economic potential and the Free Trade Agreement; to transform the existing trends in the economic sphere.
Tanvir Ahmad, the Acting High Commissioner of Pakistan in Sri Lanka, while calculating the depth of relations between the two states, underlined that Sri Lanka enjoys an exceptional status of being the first country with which Pakistan entered into a Free Trade Agreement (FTA).
He emphasized strengthening relations through joint ventures and enhancing economic collaboration in the sectors of trade and investment, within the ambit of the Pakistan-Sri Lanka Free Trade Agreement (PSFTA).
He highlighted Pakistan’s desire to utilize its immense trade potential with Sri Lanka by engaging in economic collaboration as a part of the government’s strategic trade policy. The joint ventures through the various projects of the China Pakistan Economic Corridor (CPEC) in reaching Central Asian markets and beyond were also talked about.
Asma Kamal, Commercial Secretary, expressed her views through a detailed analysis of relations between Pakistan and Sri Lanka in the trading sphere with a primary focus on utilizing the real potential and finding the way forward for the existing challenges.
She highlighted that the objective of the Conference was to follow up, build and strengthen linkages at the chamber-to-chamber level and between individual businesses in Pakistan and Sri Lanka, which must be encouraged frequently in the future as well.
Two Memorandums of Understanding (MoUs) were also signed between Rawalpindi Chamber of Commerce & Industry, Pakistan with Ceylon Chamber of Commerce (CCC) and Federation Chamber of Commerce & Industry, Sri Lanka (FCCISL).
Moreover, nine MoUs were signed between individual business counterparts from Pakistan and Sri Lanka across sectors including pharmaceuticals, automobiles, and education. The event was held as per prevailing Covid-19 protocols and regulations in Sri Lanka and was highly appreciated on social media platforms.
