KARACHI, April 2: Sri Lankan President, Mahinda Rajapakse on Sunday said since the signing of Free Trade Agreement (FTA) between Pakistan and Sri Lanka one year ago, business communities of both countries were working with effective coordination for promotion of bilateral trade and business.

He was addressing the Pakistani Business Community at a hotel here. The programme was organised by the Pakistan-Sri Lanka Business Forum.

He said that before the signing of FTA, Sri Lanka’s export to Pakistan was $40.9 million, but in the matter of past six months a significant rise had been noticed in the export.

The FTA has provided better opportunities to both the countries in business and trade, he added.

Earlier, he witnessed the signing of five memoranda of understanding between the private companies of Pakistan and Sri Lanka.—APP