The deal was signed during a visit to Sri Lanka by Pakistani Prime Minister Nawaz Sharif this week, confirming earlier rumors about an imminent deal.
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The Prime Minister who is in Sri Lanka’s on an official visit met the Sri Lanka’s industry heads, top executives and media moguls and discussed with them the prospects of investment in each other’s countries.
Sri Lanka and Pakistan yesterday (Jan. 05) signed eight (8) important Memorandums of Understanding (MoU) to enhance the cooperation between the two countries in several fields. The MoU for cooperation between the Pakistan Institute of Fashion and Design and the Gem and Jewellery Research and Training Institute of Sri Lanka was also inked.
PM Nawaz said the current volume of bilateral trade did not reflect the true potential between the two countries and called for steps to achieve the target of $1 billion by the end of 2016. An official privy to the meeting told APP that President Maithripala appreciated Prime Minister Sharif for making solid efforts for the development of country.
“We are also examining the possibility of setting up a joint investment company and having a currency-swap with Sri Lanka”, Sharif said.
The Pakistani Prime Minister who arrived in the Presidential Secretariat was warmly welcomed by President Sirisena.
The prime minister noted that both the countries had good political relations but the economic relations did not commensurate with the political relationships.
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WASHINGTON, Jan 6 (APP):”My wife and I shall take our children to Pakistan for one big reason: to show them they’re able to visit this remarkable land”, says Jasper Reid, a British expat and an entrepreneur based in India’s capital of New Delhi.
