Lankan president due in city Apr 18

Sri Lankan President Mahinda Rajapaksa will arrive in Dhaka April 18 on a four-day visit, a top official at the Ministry of Foreign Affairs (MoFA) said Monday. A number of agreements on trade, taxation and agriculture are expected to be signed between Dhaka and Colombo during the visit of Rajapaksa, the official added. Sri Lanka and Bangladesh are the members of SAARC (South Asian Association for Regional Cooperation), BIMSTEC (Bangladesh India Myanmar Sri Lanka Thailand Economic Cooperation) and APTAAsia Pacific Trade Agreement). The upcoming visit of Sri Lankan president will further strengthen the bilateral and regional relations between the two South Asian countries, some diplomats believe. A memorandum of understanding (MoU) between Export Promotion Bureau of Bangladesh and Export Development Board of Sri Lanka is likely to be signed between the two countries to introduce state-to-state trade, sources said. Besides, a MoU between Bangladesh Agricultural Research Council and Sri Lanka Council for Agricultural Research Policy is set to be signed during the visit of Sri Lanka president, a high official said. A tax treaty, styled 'Avoidance of Double Taxation and the Prevention of Fiscal Evasion' and another agreement on investment related issues, titled 'Agreement on Promotion and Reciprocal Protection of Investment' are expected to be signed between Dhaka and Colombo during the stay of Rajapaksa in Bangladesh. "Both the countries have so far completed most of the required internal formalities to sign the agreements on trade, agriculture, investment and taxation," a high official at the MoFA said. "The remaining tasks relating to signing the agreements will be completed by the first week of next month," he added. A high official at the foreign ministry said, the existing air service agreement and shipping agreement between Bangladesh and Sri Lanka are likely to be updated to make them more responsive to the current needs of both the countries concerned. If both sides agree, then revised agreements are also likely to be signed during the visit of Rajapaksa. He, however, said that lot of works have to be completed to revise both the agreements, which might not be possible by April 18.