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KARACHI: Sri Lanka has invited Pakistani businesses to participate in the Economic and Investment Summit 2025 in Colombo as Colombo looks to deepen trade and investment ties with Pakistan across new sectors, Sri Lanka’s consul general said during a visit to the Karachi Chamber of Commerce and Industry (KCCI) on Tuesday. 

Pakistan and Sri Lanka maintain longstanding diplomatic and defense relations and have operated a Free Trade Agreement (FTA) since 2005. Yet bilateral trade has remained modest and concentrated in a limited set of goods. Pakistan mainly exports textiles, cement, pharmaceuticals, rice and cereals to Sri Lanka, while Sri Lanka exports tea, coconut products, medium-density fiber boards, rubber products and surgical goods to Pakistan.

Business councils on both sides have long argued that the commercial relationship does not reflect its potential, particularly in value-added sectors, services and tourism. Sri Lanka’s recent economic stabilization program and Pakistan’s need to diversify export markets have renewed interest in expanding trade.

At a meeting during his visit to the Karachi Chamber of Commerce & Industry (KCCI), consul general, PK Sanjeewa Pattiwila, said both sides should “look beyond the existing trade basket” and tap into new areas.

“The private sectors of Sri Lanka and Pakistan can particularly thrive in agri-based industries, seafood, spices, animal feed, value-added seafood, construction, and information technology,” he said, according to a statement released by KCCI, noting that Pakistan currently holds the trade surplus.

He added that bilateral ties were shaped not only by contemporary diplomacy but by shared cultural and historical connections. 

“For over seven decades, relations between Sri Lanka and Pakistan have been guided by mutual respect, deep understanding, and excellent cooperation,” Pattiwila said, adding that the Economic and Investment Summit 2025 in Colombo on December 2–3 would showcase Sri Lanka’s investment agenda and sector reforms.

Speaking via video link, Chairman Businessmen Group (BMG) Zubair Motiwala said the existing trade volume “does not reflect the true potential” of the relationship.

“There is immense scope for enhancing bilateral trade as both countries have numerous products to offer each other,” he said.

“The actual potential of bilateral trade between Pakistan and Sri Lanka is US$5 billion, yet our current figures remain in mere millions.”

He noted that Ceylon Tea once held a strong market position in Pakistan before being overtaken by Kenyan tea and said Sri Lanka had “not made strong efforts” to regain its share.

KCCI President Muhammad Rehan Hanif said Karachi’s private sector was open to deeper collaboration in textiles, pharmaceuticals, agriculture, logistics, tourism, ICT and services.

“Sri Lanka has always been a valued partner for Pakistan within the SAARC region,” he said, adding that exchanges of business delegations could help identify specific commercial opportunities.

The Sri Lankan envoy also encouraged two-way tourism, saying travelers could benefit from cultural and religious heritage experiences in both countries.