Pakistan invited to investment zone to capture EU market
04 Apr '06
1 min read
Pakistani investors are invited to start manufacturing units at investment zone and export to the European Union using preferential access channels, said P B Jayasundera, Sri Lankan Treasury Secretary.
During the visit of President Mahinda Rajapakse to Pakistan, both countries came to a decision of establishing a dedicated investment zone for EU, especially for high value added products, informed Jayasundera.
The reason for this strategic alliance is that in South Asian countries, only Sri Lanka has right to access to EU through GSP plus scheme.
Jayasundera says the apparel industry is looking for backward linkages and several Sri Lankan industrialists who joined Rajapakse, have already managed to form partnerships with Pakistani firms.
They are starting large textile mills in Sri Lanka to supply required textile fabric and other material to manufacture garments to be supplied to the European Union, Jayasundera said.
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