Sri Lanka to use $ 200 mn credit line from Pakistan to import rice, cement, medicines

(LANKAPUVATH | COLOMBO) – Trade Minister Bandula Gunawardena has said that Sri Lanka is negotiating a 200 million US dollar credit line from Pakistan and the facility will be utilized to import rice, cement and medicinal drugs.

He said the proposals on the credit line had been discussed during his recent official visit to Pakistan last week.

According to the minister importation of goods under the credit line will be carried out by the State Trading Corporation. The Trade Ministry is to submit the draft agreement soon to the Finance Ministry.

Cement, Basmathi Rice and medicines manufactured in Pakistan would be imported this year under the credit line, the Minister added.

Minister Gunawardena also noted that Sri Lanka had been able to export 500 million US dollars’ worth of goods to Pakistan under the Pakistan-Sri Lanka Free Trade Agreement.

The Minister said he held talks with Pakistan Prime Minister Imran Khan on optimal use of the Pakistan-Sri Lanka Free Trade Agreement to increase bilateral trade aiming at increasing the amount of exports to Pakistan under the FTA to 2 billion US dollars.

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