The Ministerial Level (trade) meeting between Sri Lanka and Pakistan after a lapse of six year period took place on July 4-5, in Islamabad, as the two South Asian countries met to discuss“ Sri Lanka - Pakistan Joint Economic Commission”.During the state visit of Asif Ali Zardari, President of Islamic Republic of Pakistan to Sri Lanka from 27-30 November 2010, Sri Lankan President Mahinda Rajapaksa agreed to hold the 10th session of JEC in the first quarter of 2011 to be co-chaired at Ministerial Level. Thereafter, in March 2011 a high powered official Pakistani delegation arrived for a pre-JEC meeting to finalise the agenda for July JEC. Consequent to this, a 14 member delegation led by Rishad Bathiudeen, Minister of Industry and Commerce left Colombo on Saturday July 2 to Islamabad.
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.