Pakistan’s News Daily News International in a recent report said that Sri Lanka’s MW Ventures International and Hirdaramani Group are seeking opportunity to enter into the Pakistan market to expand their business operations, quoting a official at the ministry of commerce.

Hirdaramani is a pioneer in the Sri Lankan apparel industry, and boasts a cohesive infrastructure providing end-to-end supply chain solutions to the industry through factories in Sri Lanka, Bangladesh, Vietnam and Ethiopia. Hirdaramani's enduring partnerships with leading global brands further asserts a reputation for streamlined processes and top-quality products.

The report said that MW Ventures International is a service oriented organisation comprising of different sectors of expertise focusing on marketing, financial management, and event management. It also provides financial management solutions for any nature of businesses or for individuals. The report quoted officials who had told reporters that Pakistan’s commercial secretary in Sri Lanka had meetings with top officials of Hirdaramani Group and MW Ventures and discussed business opportunities in the country.

The report highlighted that Foreign investment in Pakistan is protected by rigorous laws and foreign direct investment regulations allow full repatriation of capital and profits. It Also highlighted that Pakistan’s location on the cusp of important economic regions, young population and skilled labour force supported by very rapidly growing technology infrastructure has made Pakistan a very attractive destination for investment not only for the domestic market but also as a production and export hub for rest of the world.

Pakistani exports to Sri Lanka have shown increasing trend during the financial year of 2017/18.

Report noted that according to the State Bank of Pakistan, exports to Sri Lanka increased 35.48% during the financial year of 2017-18, while according to Sri Lankan Customs, Pakistan exports to Sri Lanka increased 41.32% during the financial year 2017/18.

- Reporting by Devendra Francis