I want to share my sqlite database between two iphone applications In one application i am reading and writing into that database and in another I am reading that data
As everybody saying my answer is also NO.. but you can achieve the database sharing having a common database at the server and then syncing it on the both local applications.
No. There is no way to access files outside your applications sandbox.
iPhone Apps are sandboxed.. In simple terms If you create/Install a App, a folder will be created where all your files will be stored. In your case you will have your DB inside that folder.. Your app cannot access anything outside its folder. The same way Another App cannot access your Apps files..
So the answer for your question will be NO..