Visiting Sri Lankan President Mahinda Rajapkasa and Pakistani Prime Minister Yusuf Raza Gilani Saturday agreed to enhance trade between the two countries up to two billion U.S. dollars in the next three years, Pakistani officials said.
The volume of current bilateral trade stands at 375 million dollars.
"The two held bilateral talks and agreed to continue their cooperation in the fields of defence, agriculture, banking, shipping and tourism," a statement from the Pakistani Prime Minister's office said.
The Sri Lankan president agreed to continue the defence cooperation between the two countries, it said.
Both sides agreed to make the Joint Ministerial Commission more effective aimed at enhancing cooperation in all sectors compatible to their ties. The next meeting of the commission will be held in Colombo this year.
They agreed to explore opportunities of investments in various sectors especially in the fields of construction, education, agriculture and shipping, the statement said.
Both sides also agreed to explore the vistas in the fields of banking and the State Bank of Pakistan would discuss the currency swap to boost trade between the two countries.
The establishment of the National Bank of Pakistan in Sri Lanka was also discussed, the establishment of which will increase trade between the two countries. Both sides agreed to extend technical cooperation in the fields of agriculture and textile in which Pakistan has developed expertise.
Pakistani Prime Minister Gilani said that the concurrence of MoU by the Sri Lankan government may be expedited.
The Sri Lankan president extended his deep sense of gratitude to Pakistan for helping in surmounting the cause of terrorism in his country.
The prime minister said that Pakistan was happy that Sri Lanka was on the trajectory of development and progress with 8 percent per annum GDP growth.
The two sides emphasized on the need to exchange parliamentary and media delegations aimed at enhancing people to people contact to further strengthen the relations between the peoples of the two countries./.