Pakistan’s president seeks barter trade with Sri Lanka

Sri Lankan speaker of parliament Chamal Rajapakse (R) and Pakistan President Asif Ali Zardari (L) talk at the parliament in Colombo on November 29, 2010. - Photo by AFP.

COLOMBO: Pakistani President Asif Ali Zardari called for a barter agreement with Sri Lanka on Monday to boost trade between the two countries.

Zardari, on a visit to the island, told legislators that they should switch to exchanging their goods and services rather than depend on dollar-denominated import-export trade that drew on foreign reserves.

“If you have anything in abundance we can trade (with that),” Zardari told the Sri Lanka-Pakistan parliamentary friendship association. “We have an abundance of cement, you have tea and other commodities that we can exchange.” Zardari, who arrived in Colombo Saturday, held closed-door talks with President Mahinda Rajapakse and discussed increasing trade and defence cooperation, the Sri Lankan president’s office said Monday.

Zardari, Rajapakse agree on ‘engagement’

Zardari in a one-on-one meeting with his Sri Lankan counterpart held extensive talks on bilateral, regional and global issues. — File Photo

COLOMBO: Pakistan and Sri Lanka on Sunday agreed on expanding its relationship from defence cooperation to an “overall comprehensive engagement” involving trade, communications and culture.

President Zardari in a one-on-one meeting with his Sri Lankan counterpart Mahinda Rajapakse at the Presidential Secretariat overlooking the Indian ocean, held extensive talks on bilateral, regional and global issues.