|Pakistan expects to invest US$ 500 mn in Sri Lanka|
Pakistan is expected to invest around 500 million US dollars in Sri Lanka in the next three years.First Secretary, Pakistan High Commission in Sri Lanka Hasan Zaigham made the statement while addressing a seminar on Sri Lanka and Pakistan trade. The seminar was organized by the National Chamber of Commerce in Sri Lanka.
Zaigham highlighted the key bilateral investment areas between the two countries. He said under-utilization of concessions provided by the both sides under the Sri Lanka-Pakistan Free Trade Agreement was a major issue.
He stressed Sri Lanka to diversify its basket of goods to higher-preference point items.
Investments from Pakistan into Sri Lanka have begun to pick up. As of December 2012, the total cumulative investment stood at around US$ 11.9 million and currently Investment of around US$ 233.3 million is in the pipeline.
Pakistani companies have invested in agriculture, IT, textiles and construction and real estate development.