Pakistani PM Nawaz Sharif announces deepening of bilateral FTA with Sri Lanka

Q.  Which two countries have agreed on the inclusion of services and investment in the bilateral free trade agreement?
- Published on 06 Jan 16

a. Pakistan, India
b. Pakistan, Bangladesh
c. Pakistan, Sri Lanka
d. Pakistan, Afghanistan

ANSWER: Pakistan, Sri Lanka
 
This would help companies of the two nations to form joint ventures for exports to other nations. When the FTA came into effect in June 2005, Pakistan’s exports to Sri Lanka were to the tune of $150 million. In 2010-11, they went up to $332 million but dropped to $260 million in 2013-14 and 2014-25, according to Rabiya Javeri Agha, Secretary of the Trade Development Authority of Pakistan. Under the agreement, Sri Lanka’s exports to Pakistan were valued at about $52 million, accounting for around 70 per cent of the country’s total exports to Pakistan, as per a document of the Central Bank of Sri Lanka.

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