Thursday, 09 April 2015 - 12:55
Pakistan willing to ink CEPA with Sri Lanka
Pakistan has expressed its intention to ink first Comprehensive Economic Partnership Agreement with Sri Lanka, keeping in view that the latter was the first country with which FTA was signed.
Pakistan and Sri Lanka should move forward from FTA to CEPA aimed at enhancing trade and economic relations", sources revealed.
In the CEPA, both countries will eliminate quotas bilaterally and deliberations will be held on customs co-operation, investment and widening and deepening of tariff cuts.
The two countries held the first round of talks on CEPA in October 2014 in Colombo and next round will be held in September 2015 in Islamabad.
According to data Pakistan's exports to Sri Lanka increased by nearly 160 per cent compared to pre-FTA exports whereas Sri Lankan exports increased by 89 percent.