Islamabad: Pakistan and Sri Lanka have reaffirmed their commitment to strengthening bilateral ties by expanding youth cooperation, promoting educational exchanges, and enhancing trade, investment, and economic collaboration during a meeting between Prime Minister’s Youth Programme , Focal Person on trade and investment Shaheryar Memon and Pakistan’s High Commissioner to Sri Lanka, H.E. Maj. Gen. (R) Dr. Nayyar Naseer.
The meeting focused on broadening opportunities for young people through student exchange programmes, leadership development initiatives, entrepreneurship support, and skills enhancement, while emphasizing the importance of deeper people-to-people contacts between the two countries.
Both sides also discussed measures to strengthen bilateral trade and investment by encouraging closer engagement between the private sectors of Pakistan and Sri Lanka.
They identified information technology, education, tourism, agriculture, textiles, healthcare, logistics, renewable energy, and maritime cooperation as key sectors with significant untapped potential.
Speaking on the occasion, Shaheryar Memon said that the youth of Pakistan and Sri Lanka can play a transformative role in shaping the future of bilateral relations.
“Pakistan and Sri Lanka share a longstanding relationship built on mutual trust and friendship. Our youth represent the strongest bridge between our two nations, and by investing in educational exchanges, entrepreneurship, innovation and leadership programmes, we are investing in a stronger and more prosperous future for both countries, ” he said.
He emphasized that the Prime Minister’s Youth Programme remains committed to creating international opportunities for Pakistani youth through academic collaboration, skill development, innovation and cross-cultural engagement.
“Young people are not only the leaders of tomorrow but also the drivers of today’s economic and social progress. Expanding cooperation with friendly countries like Sri Lanka will help create new opportunities for our youth while strengthening regional connectivity and mutual understanding, ” Memon added.
A key area of discussion was the effective implementation of the Pakistan-Sri Lanka Free Trade Agreement (PSFTA), which has been operational since 2005. Both sides agreed that the agreement provides a strong foundation for increasing bilateral trade by reducing tariffs and improving market access.
The two dignitaries observed that despite the existence of the Free Trade Agreement, bilateral trade remains significantly below its potential. They stressed the need to diversify exports, address non-tariff barriers, promote business-to-business engagement, and facilitate greater investment flows between the two countries.
Pakistan currently exports textiles, pharmaceuticals, cement, sports goods, surgical instruments, rice and leather products to Sri Lanka, while Sri Lanka exports tea, coconut-based products, rubber goods, spices, gems and apparel to Pakistan.
According to recent trade estimates, annual bilateral trade stands at approximately US$450-500 million, although experts believe it has the potential to exceed US$1 billion through better utilization of the PSFTA and stronger private-sector collaboration.
Investment cooperation also featured prominently during the meeting, with both sides emphasizing the importance of creating a business-friendly environment to attract investment in manufacturing, logistics, tourism infrastructure, renewable energy and information technology. They agreed that stronger commercial ties would generate employment opportunities and contribute to sustainable economic growth in both countries.
The meeting further highlighted the importance of scholarships, academic partnerships, innovation initiatives and student exchange programmes to equip young people with modern skills and strengthen cultural understanding between Pakistan and Sri Lanka.
Both sides expressed confidence that enhanced youth engagement, stronger economic cooperation and increased investment would open a new chapter in bilateral relations and unlock the full potential of the Pakistan-Sri Lanka partnership.