Sri Lanka has urged Bangladeshi entrepreneurs to invest in its growing pharmaceutical sector and explore new opportunities in export-oriented industries, as part of efforts to strengthen bilateral trade ties.
The call was made during a business plenary session titled “Sri Lanka & Bangladesh Economic Ties: Building Bridges for Growth,” held at the National Chamber of Commerce of Sri Lanka in Colombo on June 18, according to a press release.
Around 150 meetings were held during the visit, involving over 70 Sri Lankan firms.
A delegation from the Dhaka Chamber of Commerce and Industry (DCCI) attended the session.
Anura Warnakulasooriya, president of the National Chamber, said greater private sector collaboration and mutual trust would deepen trade relations.
DCCI President Taskeen Ahmed highlighted Bangladesh’s economic resilience and its competitive sectors, including garments, pharmaceuticals, leather, and ICT.
He invited Sri Lankan businesses to explore investment opportunities in Bangladesh’s economic zones, which offer incentives and modern infrastructure.
Andre Fernando, president of the Sri Lanka-Bangladesh Business Cooperation Council, urged Bangladeshi investors to contribute to Sri Lanka’s pharmaceutical sector.
Mangala Wijesinghe, chairman of the Sri Lanka Export Development Board, noted that Bangladesh supplies pharmaceuticals and ready-made garments to Sri Lanka and emphasised expanding cooperation in sectors like packaging, logistics, and agriculture.
Renuka M Weerakone, director general of Sri Lanka’s Board of Investment, said a free trade agreement (FTA) between the two countries would help remove tariff barriers and boost bilateral trade.
She said Sri Lanka has 15 export processing zones focused on pharmaceuticals, fabrics, and medical equipment.
Bangladesh High Commissioner to Sri Lanka Andaleeb Elias and Sri Lankan High Commissioner to Bangladesh Dharmapala Weerakkody also backed the proposal for an FTA.
Former DCCI President Rizwan Rahman said maritime collaboration and tariff reforms could unlock further trade potential.
Source: The Daily Star
--Agencies
