Sri Lankan High Commissioner Visits ICCI to Strengthen Bilateral Trade and Investment
Rear Admiral Fred Senevirathne (r), the High Commissioner of Sri Lanka to Pakistan, recently led a delegation to the Islamabad Chamber of Commerce and Industry (ICCI) to explore new avenues for strengthening bilateral trade and investment cooperation. Accompanied by Deputy Head of Mission Christy Ruban and Minister Counsellor Mrs. K.H.C. Sankpali, the visit aimed to foster closer economic ties between the two nations.
Emphasis on Longstanding Friendship and Strategic Partnerships
Addressing the business community, High Commissioner Senevirathne underscored the deep-rooted friendship between Sri Lanka and Pakistan, which is built on trust, mutual understanding, and regional cooperation. He described ICCI as a premier business platform dedicated to advancing trade, industry, and services, expressing the Sri Lankan High Commission's keen interest in establishing a structured and result-oriented partnership with the Chamber.
Sri Lanka's Strategic Advantages and Economic Outlook
The high commissioner highlighted Sri Lanka's strategic geographic position at the crossroads of major maritime trade routes, connecting regions such as the Far East, Middle East, Africa, Europe, Australia, and America. This provides unmatched global connectivity, with key ports like Colombo serving as major container transshipment hubs in the Indian Ocean, supported by modern terminals and advanced infrastructure. Additional ports, including Hambantota International Port, Galle Port, and Trincomalee Port, further enhance maritime capacity.
He also emphasized Sri Lanka's strong air connectivity and improving economic outlook, noting the country's recovery under IMF guidance with stabilized exchange rates, improved foreign reserves, and rising export earnings. The 12 Export Processing Zones operating under the Board of Investment offer dedicated facilities and attractive incentives for export-oriented industries, making Sri Lanka an attractive destination for foreign investment.
Priority Sectors for Pakistani Investors
Inviting Pakistani investors, High Commissioner Senevirathne identified several priority sectors for collaboration, including:
- Textiles and apparel
- Electronics
- Pharmaceuticals
- IT and IT-enabled services
- Tourism
- Agriculture and food processing
- Construction and infrastructure
- Automobile and light engineering
He encouraged investment through independent ventures and joint collaborations, aiming to leverage the complementary strengths of both nations.
ICCI's Response and Call for Enhanced Trade
In his welcome address, Sardar Tahir Mehmood, President of ICCI, highlighted the cordial and brotherly relations between Pakistan and Sri Lanka, founded on mutual respect and shared regional aspirations. He noted that the current bilateral trade volume of approximately USD 400–500 million does not reflect the true potential between the two friendly nations, stressing the need to diversify export portfolios, enhance market access, and promote stronger investment linkages.
Mehmood pointed out Pakistan's competitive strengths in sectors such as textiles and garments, pharmaceuticals, surgical instruments, sports goods, rice, cement, and IT services. He also acknowledged Sri Lanka's global recognition in tea, rubber and rubber-based products, coconut products, gems and jewelry, tourism, and maritime services. By leveraging these complementarities, he asserted that both countries could substantially expand two-way trade and develop sustainable joint ventures.
Mechanisms for Deepening Commercial Engagement
The ICCI president emphasized practical mechanisms to deepen commercial engagement, including regular exchange of trade delegations, single-country exhibitions, and structured B2B forums. He assured full cooperation to the Sri Lankan High Commission in facilitating business networking, promoting joint ventures, and maximizing the benefits of the Free Trade Agreement framework to elevate bilateral trade to new heights.
Other attendees, such as Senior Vice President Tahir Ayub, former President Mian Shaukat Masood, and Chairman Inter-Regional Coordination Committee Kashif Zahir, also highlighted the vast untapped trade and investment potential between Pakistan and Sri Lanka. The meeting was well-attended by key figures from the trade and industrial sectors, underscoring the collective commitment to strengthening economic ties.
