SL team due in city tomorrow

Pankaj Dastider | Published: February 17, 2014 00:00:00 | Updated: November 30, 2026 06:01:00

CHITTAGONG, Feb 16: A high-powered Sri Lankan delegation headed by ministry of commerce and industry secretary Anura Siriwardena is arriving in Bangladesh on a two-day visit from February 18 to explore ways to boost trade and investment relations between the two countries.
The delegation is scheduled to visit Dhaka to take part in the First Joint Working Group on Trade meeting that will pave way for a comprehensive trade collaboration framework, concerned sources said.
Sources said that High Commissioner of Sri Lanka in Bangladesh Sarath K Weragoda has invited at least two representatives of the country's major trade bodies including Chittagong Metropolitan Chamber of Commerce and Industry (CMCCI) and Chittagong Chamber of Commerce and Industry (CCCI) to join the interaction with the high-powered delegation of Sri Lankan Commerce and Industries Ministry.
Trade body representatives from the port city said the visit of Sri Lankan team is likely to open up avenues for greater bilateral trade and investment in the face of growing interest from investors of both the countries.
The visit will help "explore investment opportunities in each other's market in addition to the vast potential in expanding trade in goods and services," said a letter of the High Commission seeking representation from trade bodies.
Such an interaction would avail the business officials of Bangladesh and Sri Lanka ample opportunities to have a frank exchange of ideas and views on available opportunities on trade, investments and tourism in Sri Lanka and Bangladesh.
Sources said that there is ample opportunity of Bangladeshi business and exporters to raise the volume of export and import from both the countries.
The balance of trade between Sri Lanka and Bangladesh is reportedly regularly in favour of the former and the amount increased from US$15.50 million to US$22.70 million during the year 2005-07.
The major export items from Bangladesh to Sri Lanka are iron and steel, cotton, pharmaceuticals and other medicaments, woven fabrics, textiles, electrical and electronic items, jute and jute products, apparels and clothing accessories.
Major imports from Sri Lanka include mineral fuels, oils and products, motor vehicles, iron steel, knitted or crocheted fabrics and plastic.
The economic strategy of the government of Sri Lanka is to encourage private sector to play a leading role in all economic activities. Therefore, special emphasis has been placed on creating a business climate conducive to private investment.