COLOMBO: Sri Lanka and Pakistan have agreed to increase trade and investment relations under the existing Free Trade Agreement (FTA ) to reach the target of 1 billion U.S. dollars trade by 2018, a Foreign Ministry statement said here <span data-term="goog_1257864989">Thursday</span>. In the Sri Lanka-Pakistan Foreign Office Consultations held in Colombo this week, the two countries decided to use the FTA to its maximum potential. Pakistan and Sri Lanka signed a Free Trade Agreement in July 2002 and it became operational in June 2005. Following the signing, Pakistan's exports to Sri Lanka grew from 154 million U.S. dollars in 2004 to 316 million U.S. dollars in 2013. Sri Lanka's exports to Pakistangrew from 46 million U.S. dollars to 63 million U.S. dollars in the cited period of time. INP
