Pak offers USD 200 million loan to Lanka to boost trade ties

Discussion in 'West Asia & Africa' started by ganesh177, Dec 8, 2010.

  1. ganesh177

    ganesh177 Regular Member

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    Pak offers USD 200 million loan to Lanka to boost trade ties

    Islamabad, Dec 5 (PTI) Pakistan has offered a soft loan USD 200 million to Sri Lanka to deepen economic ties in a bid to boost bilateral trade to USD 1 billion, a top minister has said.

    The Chairman of the Board of Investment and Minister of State for Investment of Pakistan Saleem H. Mandviwalla, who visited Sri Lanka last month with the President Asif Ali Zardari, said both the countries would boost bilateral trade from existing USD 300 million to USD one billion in near future.

    Mandviwalla said Pakistan has offered a soft credit of USD 200 million to Sri Lanka to boost export, barter trade and easing business transactions.

    "Our target is USD one billion in the near future," he was quoted as saying by the state-run APP news agency.

    Pakistan plans to help Colombo set up sugar and cement plants in return for import of Sri Lankan produce and manufactures in Pakistan in barter trade.

    The two countries already have a Free Trade Agreement, Bilateral Investments Treaty, and Avoidance of Double Taxation to boost trade.

    Among other measures slated for enhanced bilateral cooperation are the liberation of the visa process to facilitate business travel, promotion of investments in mutually beneficial business ventures in Sri Lanka, and cooperation in cement, sugar, dairy production, textiles, tourism, light engineering, fresh fruits and vegetables, processed goods and pharmaceuticals, the report said.

    During Zardari''s four-day official visit to the Lanka last month, the president had told parliamentarians that he wants a "new and unconventional phase of economic cooperation" between both the nations.

    Zardari, who became the first head of state to call on President Mahinda Rajapaksa after the Sri Lankan leader assumed duties for his second six-year term, had also underlined the need to for bilateral defence cooperation.

    Zardari had said Pakistan could benefit from Lanka''s experience in dealing with the separatist Tamil Tiger rebels who were crushed in May last year after a three-decade civil war.
    Pakistan was a major supporter of the Sri Lankan government during its war against the LTTE. PTI
    http://news.in.msn.com/international/article.aspx?cp-documentid=4661923
     
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  3. Yusuf

    Yusuf GUARDIAN Administrator

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    :emot15::emot15::emot15::emot15::emot15::emot15::emot15::emot15::emot15:
    That is all i could manage.
     
  4. SHASH2K2

    SHASH2K2 New Member

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    Looks like beggars have started a bank to give loans to beggars . I wonder what kind of trade ties Pakistan will be looking for with Sri lanka. Export of terrorism and weapons I guess.
     
  5. Vikramaditya

    Vikramaditya Regular Member

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    They are going SOS to whole world for their flood victom and at same time the are donating such a huge amount.:emot112:...amazing...:emot112:pakistan has no money problem as long as country from "friend of pakistan" is donating pakistan blindly.
     
  6. Parthy

    Parthy Air Warrior Senior Member

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    They'll go ahead and do more until they have a Blind US Support... :emot154:
     
  7. Vikramaditya

    Vikramaditya Regular Member

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    Pakistan is trying to counter Indian influence in Sri lanka.Once Tamil party in Sri lanka control the center, India is gonna kick pakistan out of that tiny island.
     
  8. maomao

    maomao Veteran Hunter of Maleecha Senior Member

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    LOL hahahahhahaha Begging from US and giving out loans to SL , these Beggars are helarious....man they were begging few days back to waye of USD 50 Billion dollars and have a debt of more than USD 100 Billion with almost no reserves and they wanna give loan to SL.....this is JOKE OF THE YEAR :emot15::emot15:
     
  9. hit&run

    hit&run Elite Member Elite Member

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    Follow the money and trace the axis. I heard Sri Lanka is not going to Nobel Prize ceremony of Chinese national as well.

    Sri Lanka can not pick all cherry from all trees, has to be careful when making choices or accepting offers.
     
  10. smartindian

    smartindian Regular Member

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    i think they can give 200 million fake currency, lol
     
  11. IBM

    IBM Regular Member

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    200 million hmmmmmmmmm.... Begers become traders. They gather so much $$$$$ from begging, they starting giving loans now. Interesting to see US Aid going to srilanks via pak
     
  12. divya

    divya Regular Member

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    Take a chill pill guys first this is not charity and so the money would be returned back. Money or no money foreign policy plays its own course. Not so long time ago we were also not that rich but did we forgo our foreign policy for the sake we were poor. There is a definite share of money which needs to be invested in all fields. There is nothing to lol about it has more to do with making strategic allies. Just by lolling we are not going to counter that.
     
  13. Phenom

    Phenom Regular Member

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    While its pretty funny to read about Pakistan giving aid, we should not miss the larger picture.
    The situation in SL is very worrying, recent moves by their govt seems to suggest that they have no interest in reconciliation and they may be preparing to clamp down on what little freedom Tamils enjoy and align themselves clearly with the Chinese.
     
  14. divya

    divya Regular Member

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    I dont think alignment with chinese and tamil issue are related incidents. Every county has right to align themselves with anyone. Even we are aligning with US, so it has nothing to do with the tamil issue. its just foreign policy where in they see what is beneficial for them.
     
  15. SATISH

    SATISH DFI Technocrat Stars and Ambassadors

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    Well there are different ways to percieve this...Either the Srilankans are really good at playing diplomatic games or the whole world want to wrest a control over the most strategic country in the IOR. Remember the 60% of world trade is transported through the IOR and Sri Lanka has a key role to play when it comes to SE-Asia energy lanes and trate partnership. More neutral Sri-Lanka remains more beneficial to the country and its economy. Srilanka must follow the Malaysian/Singapore model and set up port trusts and use transit as its preliminary source of income. Sri Lanka has great potential in this area.
     
  16. Phenom

    Phenom Regular Member

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    Actually they are related, if the SL govt wants to impose 'Victor's Justice' on the Tamils (so far every move they have made seems to suggest that is the case) then this will result in declining relation with India. So they are hedging their bets now and aligning themselves with the Chinese. Pakistanis are ofcourse secondary in this issue.
     
  17. The Messiah

    The Messiah Bow Before Me! Elite Member

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    dont worry if they try to act smart then will be taken care of quite quickly.

    a nice slap on the wrists and they'll get the message....but that is unlikely since goi is inept and corrupt.
     
  18. Parthy

    Parthy Air Warrior Senior Member

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    We are not aligning with US.. We do have raised some significant diplomatic ties with US that doesn't mean that we are aligning with US..
     
  19. divya

    divya Regular Member

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    same is the case with sri lanka. they are surrounded by some powerful people. so they will need to show their stance as otherwise they will be in big time trouble.
     
  20. neo29

    neo29 Senior Member Senior Member

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    Begging money from US and IMF and then giving loan to Sri lanka seems bad idea. They cant match what India gives Sri lanka.

    But in the end small countries like Sri Lanka and Myanmar are getting benefits from the regional giants, thanks to the power struggle among regional powers.
     

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