HYDERABAD, Feb 28: The Consul General of the Democratic Socialist Republic of Sri Lanka in Pakistan, P. D. Fernando, has said that the newly-elected government of Sri Lanka has launched a 100-day work programme to accelerate its economic development for achieving significant growth rate during the current year.

He was addressing the members of the Hyderabad Chamber of Commerce and industry at the Chambers Secretariat here on Wednesday.

He said that the Sri Lankan mission in Pakistan was making special efforts to intensify business activities for promoting trade and economic relations.

He said in furtherance of the programme, the business community of Pakistan would be offered a special package of services during the period ending on April 15, and added that being a neighbouring country and a Saarc member, Sri Lanka gave high importance to the Pakistani market.

He acknowledged that the role of Pakistan was vital to the regional integration programme.

He said it was indeed a happy augury that there existed a rare combination of trade relations which were complimentary to each other’s economy rather than competing with each other.

He said that apart from the complimentary nature of trade relations between the two countries, the same were backed by friendly and cordial political relations.

Mr Fernando observed that traditionally Pakistan had been an important trading partner of Sri Lanka and although his country had been enjoying a significant favourable trade balance with Pakistan, this position had changed since 1985.

He said that the decline in the import of tea by Pakistan and an increase of various exports from Pakistan had turned the trade balance in favour of Pakistan.

Analyzing the two-way trade statistics, the consul general pointed out that trade between the two countries was still limited to only a few items which had been traditionally exchanged for decades.

He said that time had come to take necessary steps to diversify the range of products rather than stagnating them in the traditional pattern. He suggested that the two countries should discover the areas where comparative advantages existed for mutual benefits.

He disclosed that his mission was in the process of organizing this year’s first business delegation to visit Sri Lanka at the end of the current month.

He said that the two countries had many opportunities to develop their trade in services, health, education, tourism and film production.

In his speech the HCCI senior vice president, Mohammad Akram Arian, said that due to the policies of the present government, investment climate in Pakistan for the entrepreneurs of Sri Lanka, especially in the field of joint venture, was quite favourable.

He suggested that the single country exhibition be arranged at Hyderabad and Sri Lanka and the communication gap between the two countries be plugged.