ISLAMABAD: A delegation from the Islamabad Chamber of Commerce and Industry (ICCI) on Tuesday discussed strengthening bilateral trade and cooperation with Sri Lankan High Commissioner Fred Senevirathne.

During the meeting, Ambassador Fred Senevirathne briefed the delegation on Sri Lanka’s recent economic and political developments. He noted that the country faced significant challenges following the 2019 Easter bombings, the COVID-19 pandemic, and governance issues, which collectively led to an economic crisis.

However, he added that with the new government’s anti-corruption measures and economic reforms, Sri Lanka’s situation has now stabilised, and its political and economic conditions are improving.

The high commissioner emphasised the need to revitalise the Free Trade Agreement (FTA) between Pakistan and Sri Lanka.

He proposed the establishment of secretary-level and ministerial-level dialogues to strengthen cooperation, particularly in the pharmaceutical, agriculture, potato, rice, and cutlery sectors, and to explore new opportunities for trade enhancement.

He also encouraged ICCI to organise a business delegation to Sri Lanka, highlighting potential opportunities in the finance, agriculture, and manufacturing sectors.

He assured that the Sri Lankan High Commission would facilitate connections between Pakistani and Sri Lankan businesses and promote B2B, cultural, and political exchanges.

Ambassador Senevirathne said Karachi-Colombo and Lahore-Colombo flights have already started operations, and work is underway to launch a direct flight between Islamabad and Colombo in the near future.

He said this initiative would further strengthen connectivity, tourism, and business relations between the two countries.

ICCI President Sardar Tahir Mehmood appreciated the high commissioner’s efforts to strengthen bilateral relations and said that both countries have immense potential to expand trade in the agricultural sector, particularly in the export of potatoes and other farm products.

He mentioned that Pakistan’s economy and stock exchange are showing positive growth and emphasized the need to overcome existing trade barriers for mutual benefit.

He also invited the high commissioner to visit the Islamabad Chamber of Commerce and Industry to meet Pakistani entrepreneurs and explore joint ventures.

Secretary General of United Business Group Zafar Bakhtawari lauded the historic friendship between Pakistan and Sri Lanka, recalling that Sri Lanka was the first country to send its cricket team to Pakistan when international teams had suspended tours.

He said this gesture reflected the deep-rooted friendship and mutual trust between the two nations. He further expressed hope that bilateral trade volume could reach up to $1 billion in the near future, emphasising that both countries should work together more closely to achieve this target.

ICCI Senior Vice PresidentTahir Ayub highlighted the importance of strengthening agricultural collaboration and exploring export opportunities.

He noted that Pakistan’s economy is showing signs of improvement and stressed that both nations can benefit through enhanced trade partnerships.

Both sides showed commitment to further promote bilateral trade, economic cooperation, and cultural ties between Pakistan and Sri Lanka through active engagement of both the public and private sectors.

Published in Dawn, October 15th, 2025