Pakistan and Sri lanka sign a MOU to start joint ventures

By Walter Jayawardhana

PAKISTAN AND SRI LANKA SIGN A MOU PAVING THE WAY TO ESTABLISH JOINT VENTURES IN AVIATION, TEXTILES, TOURISM MANUFACTURING AND TOURISM

Sri Lanka signed a memorandum of understanding with the government of Pakistan facilitating the two countries to initiate joint ventures in new fields like aviation, manufacturing, textiles and tourism.

Sri lanka’s new minister for Enterprise Development Dr. Sarath Amunugama is leading a Sri lanka delegation to Islamabad in an effort to promote Pakistani investment in Sri lanka.

This deal was finalised between the senior investments officials of both the countries during two days of detailed discussions held in Islamabad.

Secretary Board of Investment Pakistan Talat M Miyan and Chairman BOI Sri Lanka Prof. Lakshman R. Watawala have signed the agreement, respectively, on behalf of their governments. Dr Sarath Amunugama, Minister for Enterprise Development and Investment Promotion Sri Lanka was also present on occasion.

Other members of the Sri Lankan delegation are Mano Wijeratne, Minister of Enterprise Development, T Hewage, Secretary, Ministry of Enterprise Development and Investment Promotion, Prof. Lakshman R Watawala, Chairman BOI, Dr. Nihal Samarappuli, Executive Director (Research), BOI and Duminda Ariyasinghe (Promotion) BOI.

Both sides also agreed to further simplify the visa regime for the tourists and businessmen. They clarified that the visas to tourists are being issued on the demand and at the arrival at entry points for 3 months period.

Pakistan on Thursday expressed its readiness to provide rolling stock for the Sri Lankan Railways.

In line with discussing the modalities, a meeting between Minister for Railways Sheikh Rashid Ahmed and Minister of Investment Sri Lanka Dr Sarath Amunugama was held in the Railways Ministry here.

Sheikh Rashid Ahmed said that Pakistan Railways was ready to provide rolling stock and technical assistance to Sri Lanka railways according to their requirement.

He recalled that Pakistan had supplied 40 wagons to the friendly country during 2001 while it was ready to provide more rolling stock to help meet with requirements in the sector.

The Sri Lanakan minister thanked the Government of Pakistan for provision of rolling stock to their railways and expressed the hope that same gesture would continue in future.
A proposal for supply of 24 Tank wagons to Sri Lanka was being actively considered by Pakistan Railways.

Secretary and Chairman Pakistan Railways Shakil Durrani and senior officers of the ministry also attended the meeting

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Posted on February 9, 2007, in Sri Lanka and tagged , , , , , , , . Bookmark the permalink. Comments Off on Pakistan and Sri lanka sign a MOU to start joint ventures.

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