Pakistan and Sri Lanka on Tuesday signed eight memorandum of understanding (MoUs) in several fields, including trade, defence, security and anti-terrorism.

“The MOUs will help promote cooperation between Pakistan and Sri Lanka in several fields, including trade promotions, culture, healthcare, money laundering and combating terror financing,” Prime Minister Nawaz Sharif said while addressing a ceremony in Colombo.

“There are vast opportunities for bilateral trade between Pakistan and Sri Lanka and the quantum of trade will be taken to $1 billion annually,” he said.

Speaking about the constant efforts of the two countries to improve bilateral relations, PM Nawaz said, “I reiterated Pakistan’s offer to set up cement and sugar plants in Sri Lanka on mutually agreed terms for the long-term benefit of the Sri Lankan economy.”

“Pakistan is ready to give Sri Lanka the most favoured nation (MFN) status in trade,” PM Nawaz added.

Further, the premier also expressed the need for frequent port calls, participation in military exercises, defence seminars and training of military personnel between the two countries.

“The two countries have not only agreed to work together in the field of gems and jewelry, but also fields like education, defence, science and technology and health care,” he added.

“We now look forward to welcoming President Sirisena to Pakistan at an early date so that relations of mutual trust and confidence can be further enhanced,” PM Nawaz said as he invited Sri Lankan President Maithripala Sirisena to Pakistan.

Appreciating PM Nawaz’s efforts in improving relations with Sri Lanka and other countries, Sirisena said “Political instability in Pakistan will end under the leadership of PM Nawaz.”

Earlier delegation level talks between Pakistan and Sri Lanka were underway at Colombo’s Presidential Palace. Leading their respective delegations, the two leaders discussed ways to enhance bilateral relations in diverse fields, Radio Pakistan reported.

The Pakistani delegation included Commerce Minister Khurram Dastgir Khan and Special Assistant to Prime Minister on Foreign Affairs Tariq Fatemi among several others.

The prime minister along with a delegation is on a trip to Sri Lanka from January 4 to 6.

(Express Tribune)