Sri Lanka, Pakistan consider currency swap agreement

Jan 06, 2015 (LBO) – Sri Lanka and Pakistan will considering entering into a currency swap agreement, the Prime Minister of Pakistan Nawaz Sharif said speaking in Colombo.

The two countries will also look at a joint investment company, he said speaking at the launch of the single country trade exhibition.

Sri Lanka has a 1.5 billion dollar currency swap arrangement with India which supported foreign reserves, and Sri Lanka has requested extending this arrangement with India.

Sharif said investments and services sectors could be included in the free trade agreement between the two countries, with the aim to boost trade to one billion dollars from the current 325 million dollars.