Pakistan trades with Sri Lanka: shipment of fans
Trade Development Authority of Pakistan (TDAP) announced on Tuesday that Pakistan’s GFC Fans shall be shipping $50,000 worth fans to Sri Lanka.
GFC continues to be the leading manufacturer of fans besides being the first participant of the country’s first single-country exhibition from 15th to 17th January 2016 that was organized by the TDAP.
GFC Fans is based in Gujrat and has been making electric fans from 1954. The exports started in 1993 while in 2012-13, the shipments have now crossed $13 million.
The fans have been exported to more than 30 countries namely the Gulf and African nations as well as USA, UK, France, Italy, Malaysia, Bangladesh and Sri Lanka.
TDAP says that exports to Sri Lanka shall increase 100 pc i.e. from $267 within a year to $500 million. In accordance with the data revealed by the Pakistan Bureau of Statistics for 2014-15, this trade is in Pakistan’s side since our exports are that of $267 million and imports are only $58 million worth.
Though having enough balanced ties between them, both countries have been unable to fully utilize the free trade agreement signed in 2005. Trade has surely risen but still remains confined from the last six years to the average $350 million boundary.