On July 4, 2011 Sri Lankan Minister of Industry and Commerce Rishad Bathiudeen who led the high powered Sri Lankan delegation, began bilateral discussions with Pakistani Minister of Foreign Affairs, Finance and Economic
Both the Delegations acknowledge that relations between the two countries are based on shared understanding on a wide range of bilateral, regional and international issues. It was emphasized that both countries are yet to explore the full potential for expanding and increasing trade under the FTA. However, it was observed that bilateral trade has increased considerably with the implementation of the FTA in 2005 from US $ 147 million in 2004 to US$ 342 million in 2010. Both sides agreed on the need to encourage business community of the two countries to engage in regular interactions, participation in exhibitions and promotional events in each other’s country, facilitate their frequent visits etc. They further agreed on the need to have regular meetings to review the progress of the implementation towards resolving emanating issues from time to time.