LAHORE, Feb 9: Enterprise Development Minister of Sri Lanka Mano Wijeratne has said there is a vast scope for increase in bilateral trade and economic cooperation between Pakistan and his country after the signing of free trade agreement.

He was talking to LCCI president Shahid Hasan and other office-bearers during his visit here on Friday.

Mr Wijeratne said the cost of doing business was relatively low in his country, and Pakistani businessmen could benefit from it by starting joint ventures.

He said chemicals and steel were in great demand in Sri Lanka, but Pakistani business community was not aware of it. Cotton, synthetic textiles, surgical instruments, plastic goods, auto-parts, light engineering products, industrial raw materials, fertilizer, sports goods, cement, fans, household appliances and pharmaceuticals were also in great demand.

He said there was a vast scope for cooperation in education, culture, commerce, trade, science and technology and tourism sectors between the two countries. Sri Lanka could increase export of tea, spices, coconut, rubber and betel leaves to Pakistan. Flights between the two countries required to be increased.