The officials of the two countries signed the agreements in the fields of anti-terrorism, defence, security, trade and science and technology.
Prime Minister Nawaz Sharif and Sri Lankan President Maithripala Sirisena were present at the signing ceremony.
Speaking on the occasion, Nawaz Sharif said there are vast opportunities for bilateral trade adding that the quantum of trade will be taken to one billion dollars per annum. He said Pakistan is ready to give Sri Lanka the most favoured nation (MFN) status in trade.
He said Pakistan is cooperating with Sri Lanka in the defence sector and the two countries will work together to choke financial assistance to terrorists.
President Sirisena addressing on the occasion said his country enjoys close relationship with Pakistan in all sectors. He said Sri Lankan people acknowledge the role of Nawaz Sharif in promotion of bilateral relations. He said the leadership of Prime Minister Nawaz Sharif has created political stability in Pakistan.
Earlier, Sri Lankan President Maithripala Sirisena warmly received Pakistani Prime Minister on arrival at the Presidential Palace. Begum Kalsoom Nawaz Sharif and members of the Prime Minister’s entourage accompanied him.
National anthems of the two countries were played. A smartly turned out contingent of Sri Lanka army presented salute to the visiting prime minister. Guns salute was also presented to the prime minster of Pakistan. Sri Lankan traditional dance was also part of the welcome ceremony.