Oct 10, Islamabad: Sri Lanka has invited Pakistani pharma investors to explore possibilities of establishing joint ventures in pharmaceutical industry in the country, an Associated Press of Pakistan report said.

A Sri Lankan business official visiting the Islamabad Chamber of Commerce on Wednesday has expressed Sri Lanka's plans to set up an industrial zone in the country to manufacture pharmaceuticals.

"Sri Lanka is planning to set up an Industrial Park for pharmaceutical industry and Pakistani pharma investors should explore possibilities of establishing joint ventures in that facility in Sri Lanka," President of the Sri Lanka - Pakistan Business Council Rohitha Thilakaratne has said.

Thilakaratne along with Sri Lankan High Commissioner in Islamabad Air Chief Marshal (retd) Jayalath Weerakkody has visited Islamabad Chamber of Commerce & Industry (ICCI) and exchanged views with business community on prospects of further improving trade and economic relations between the two countries.

He has pointed out that Sri Lanka's cheap and well trained manpower could be an additional advantage for Pakistani investors. Textiles and tourism were also potential areas for investment, Thilakaratne has noted.

The Sri Lankan envoy has informed the ICCI that Sri Lanka plans to add three more plights to Lahore every week in addition to the 7 weekly flights from Karachi to Colombo to facilitate trade promotion.

The Sri Lankan government has identified a 48-acre block of land in Kurunegala to set up the proposed industrial zone to locally manufacture pharmaceuticals to meet the country's growing demand.

Over 10 reputed pharmaceutical manufacturers have expressed their willingness to invest in this new industry, the government says.