Rabia Nadim
Prime Minister Imran Khan’s visit to Sri Lanka is over, but the world is still debating it, describing it a resounding victory.
Prime minister’s visit to Sri Lanka is significant in many aspects, but the most extraordinary development is Pakistan’s advance in its regional policy.
Foreign Minister Shah Mehmood Qureshi has recently revealed that Pakistan has transformed its geographical political preferences to geographical economic priorities. The visit was the first effective demonstration of Pakistan’s resolve.
During the engagements, the visiting delegation concentrated on economic partnership and the hosts reciprocated the same enthusiasm, by laying foundation stones of some long-lasting projects of bilateral trade and investment.
Pakistan Sri Lanka diplomatic and trade history dates back to 1948. Pakistan helped Sri Lankan government in fighting war against terrorism, by supplying High-Tech military equipment and expertise. Both the countries signed a Free Trade Agreement (PSFTA) on 12th June 2005. But despite the long-lasting relations, both the countries never achieved the real trade potential.
According to a recent study carried by SAARC Chamber of Commerce and Industry, Pakistan and Sri Lanka has a potential to cross a trade of $2.7 billion, if both sides remove the major barriers in tariff rationalization.
Khan’s visit was meaningful in the sense that both the countries conformed to work towards broadening and deepening of Pakistan Sri Lank Free Trade Agreement and pledged to achieve US $ 1 Billion annual target of two-way trade.
During the visit both sides not only deliberated on ways to resolve tariff issues, but Khan took a stride forward by Pitching the China-Pakistan Economic Corridor (CPEC) to his counterpart.
“Pakistan would find ways and means to enhance trade and connectivity with Sri Lanka” Prime Minister told Sri Lankan.
During the tour, Khan announced some unprecedented and lucrative incentives to Sri Lanka under his vision of peaceful neighbors.
Pakistani premiere pledged a whooping $50 million defence credit line to Sri Lanka to further boost cooperation in defence and security sectors.
In addition to economic and defense cooperation Pakistan also extended its support in social sector.
Under Pakistan-Sri Lanka Higher Education Cooperation Programme (PSLHECP) Pakistan offered 100 scholarships for Sri Lankan MBBS and BDS students and a grant of PKR 52 million for promotion of sports in Sri Lanka, including through training and equipment.
Visit was significant as Pakistan also laid the foundation of people to people contact by announcing establishing Asian Civilization and Culture Centre at the University of Peradeniya, Kandy.
His hosts reciprocated Khan’s generous gesture. Sri Lanka’s Minister of Sports and Youth Namal Rajapaksa, in the presence of the Parliament Speaker Mahinda Yapa Abeywardane, announced the commissioning of the “Imran Khan High Performance Sports Centre” in Colombo.
Both the countries signed several memorandums of understandings in science and technology and education and recognized the importance of enhancing air connectivity to promote people-to-people contact, tourism, trade and culture.
Many believe that Khan’s visit to Sri Lanka will not only open a new chapter of economic cooperation between the two countries, but it would also have deep implications on regional politics.
India is the largest trading partner of Sri Lanka and share a maritime border. The jealous tone of Indian media clearly shows that Imran Khan Government has successfully initiated a major move of regional economic cooperation and if both sides continued with similar enthusiasm, it would be the first step towards achieving the dream of economic prosperity for the both the countries.