KARACHI, May 13: Pakistan’s exports to Sri Lanka rose more than 80 per cent in nine months of this fiscal year to $109.6 million from $60.8 million. A senior official of the Export Promotion Bureau told Dawn that exports to Sri Lanka might reach $140 million at the end of this fiscal year in June after hovering around $70-80 million for the past few years. The signing of a free trade agreement (FTA) between Pakistan and Sri Lanka on Friday will help Islamabad exploit more easily the export potentials in the neighbouring South Asian country. But at the same time it will also enable Colombo to raise its exports to one of its fellow Saarc country. Pakistan and Sri Lanka are members of the South Asian Association for Regional Cooperation. The other members include India, Bangladesh, Bhutan, Maldives and Nepal.

Pakistan has been trying to increase its exports to Saarc countries for the past several years and has succeeded in its efforts. The country’s exports to Saarc nations went up 63.3 per cent to $375.4 million in July-March 2004-05 from $229.8 million in July-March 2003-04, data released by the State Bank show.

An 80.2 per cent increase in exports to Sri Lanka suggests that Pakistani exporters had stepped up efforts to grab a larger share in the Sri Lankan market, anticipating freer trade between the two countries.

Pakistan almost doubled its exports of cotton, cotton yarn and textile made-ups to Colombo to more than $45 million in nine months of this fiscal year from a year ago period. It managed to increase its rice exports 10 times to $21 million. Other items whose exports to Sri Lanka fetched more than a million dollars included processed fish, vegetables, medicines, tire cord fabrics, bed and table Lenin, tents and canvas, tube and pipe fittings, etc.

The exports to Sri Lanka in the last fiscal year had also grown 21.2 per cent to $86.8 million from $71.6 million a year earlier. Cotton, cotton yarn, textiles, fish, fruits, oils and vegetables were the main items of exports.

One interesting item whose export to Colombo has remained high is smoking pipes and bowls and cigar holders. Interestingly, Pakistan earned a handsome $1.48 million through export of this item in nine months of this fiscal year. In the last fiscal year it had earned an even higher amount -— $2.16 million. Pakistan started exporting this item to Sri Lanka in the fiscal year 2002-03 and earned $0.445 million.

This suggests that there is a lot of scope for Pakistani exporters to boost export earnings through non-traditional items. Other non-traditional items whose exports to Sri Lanka have been on the rise include arms and weapons, including revolves, pistols, bombs and grenades; plastic containers, boxes and bags; glues and adhesives; salt, confectionary and fruit juices; and beauty and makeup items.

Pakistan mainly imports tea, spices, herbs, coconuts and other fresh and canned fruits from Sri Lanka.