Pakistan has traditionally been one of Sri Lanka's important trading partners. In the SAARC region, Pakistan is the 3rd largest buyer after India and Maldives. The balance of trade between Pakistan and Sri Lanka is at US $49.82 in the period 2003 - 2004 continued to be in Pakistan's favour. Pakistan's exports to Sri Lanka were valued at US $97.84 while imports from Sir Lanka were valued at US $48.02. Over the years an increasing trend in both exports and imports has been observed which augurs well for the bilateral trade.

SRI LANKA'S MAJOR EXPORTS TO PAKISTAN ARE:

-- copra;

-- desiccated coconut;

-- coconut oil;

-- tea;

-- natural rubber;

-- betel leaves;

-- etul brooms;

-- fresh coconut;

-- tamarind and;

-- cloves.

The main items exported from Sri Lanka are items which have a place in the Pakistan market due to their premium quality.

THE VALUE OF SRI LANKA'S MAIN EXPORTS TO PAKISTAN ARE GIVEN BELOW:

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                    (Million US$)

                        2003-2004

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Desiccated Coconut          11.21

Tea                          5.87

Smoked Sheets of Rubber      3.80

Betel Leaves                 3.73

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THE MAIN EXPORTS FROM PAKISTAN TO SRI LANKA ARE:

-- Textile yarn and fabrics

-- Dried Fish

-- Vegetables and Fruits and

-- Pharmaceutical products

-- Rice etc.

THE VALUE OF PAKISTAN'S MAIN EXPORTS TO SRI LANKA ARE:

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                       (Million US$)

                             2002-03

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Textile yarn and fabrics       32.78

Fish, dried and salted          7.38

Vegetables and Fruits           6.92

Pharmaceutical Products         4.83

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It is expected that the FTA between Pakistan and Sri Lanka due to be finalised shortly would increase bilateral trade and investment substantially and open up new areas for trade.

Copyright Business Recorder, 2005