OUR STAFF REPORTER ISLAMABAD - The 10th session of Pakistan-Sri Lanka Joint Economic Commission ended on Tuesday, where Islamabad and Colombo agreed to hold Free Trade Agreement (FTA) review meeting/Comprehensive Economic Partnership Agreement (CEPA) negotiations in August 2011 in Colombo. The two-day session of Pak-Sri Lanka Joint Economic Commission was held in Islamabad on July 4-5 in which Hina Rabbani Khar, Minister of State for Foreign Affairs, Finance & Economic Affairs, led the Pakistani side whereas Rishad Bathiudeen, Minister for Industry and Commerce, led the Sri Lankan delegation. Addressing a press conference, Hina Rabbani said that next (11th) JEC meeting would be held in Colombo next year; however, she said that dates would be decided later. She further said that JEC has decided to cooperate in the fields of handicrafts, gems and jewellery and revisit visa policy. JEC has provided an institutional mechanism to promote relations between the two countries. Both the countries have great potential to enhance cooperation in various fields which needed to be tapped, she maintained. Rishad Bathiudeen termed the 10th JEC meeting as very successful as both sides have agreed to cooperate in various sectors of economy. He said that the FTA has proved that both the countries have ability to utilize the vast existing potential for their benefit. Before signing FTA, the trade volume between the two countries was just $100 million that has now gone up to almost $400 million, he said. According to the statement issued by Finance Ministry, during the JEC meeting, discussions were held on promoting cooperation in various economic and technical fields. Both the sides agreed to hold FTA review meeting/Comprehensive Economic Partnership Agreement (CEPA) negotiations in the month of August in Colombo. All matters relating to trade will be discussed in detail at the time of FTA review, which is expected to be held in August 2011 in Colombo. Pakistan and Sri Lanka also agreed on holding of regular Joint Economic Commission meeting, encouraging regular exchange of trade delegations at least one from each side in a year, encouraging their businessmen for participation in exhibitions in each others country and both sides also agreed to revisit their visa policy to make the procedure easy for businessmen and nationals of each other country. State Bank of Pakistan and Ministry of Finance will communicate with concerned authorities in Sri Lanka for the propose of providing necessary clarity/details regarding supplier credit of $ 200 million offered by State Bank of Pakistan to Sri Lanka. Pakistan reiterated its offer of long-term educational facilities as well as short term training facilities under Pakistan Technical Assistance Programme (PTAP). Sri Lankan side appreciated the gesture and assured to utilize the facilities. Sri Lankan side also requested for training in the field of handicrafts including brassware, ceramics, leather, woodwork and handloom fabrics etc. It was decided that concerned agencies will work together towards attainment of this objective. Pakistani delegation reiterated its earlier request that Pakistani students be offered training courses in the field of nursing. The Sri Lankan side assured to convey their response in due course. Both sides agreed to constitute the Joint Committee for cooperation in science & technology. Sri Lankan side agreed to send a delegation of technical experts for providing assistance to Pakistan in the field of gems. The two sides also agreed to hold next meeting of the Joint Economic Commission in 2012 in Colombo.