CA urges Lanka to invest in jute sector

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A Sri Lankan delegation led by its Minister for Foreign Affairs Rohitha Bogollagama called on Chief Adviser Fakhruddin Ahmed at his office in the city Tuesday. — PID Photo

Chief Adviser (CA) Fakhruddin Ahmed Tuesday said Sri Lanka could invest in Bangladesh's diversified areas, particularly the jute sector, as the government has started leasing out jute mills to foreign entrepreneurs, reports UNB.
The CA said this when the visiting ministerial delegation of Sri Lanka, led by its Foreign Minister Rohitha Bogollagama, called on him at his office in the morning.
The head of the caretaker government said Bangladesh attaches importance to its relation with Sri Lanka and wants to reactivate it through the existing bilateral mechanisms, as the ties between the two countries are deeply rooted with common culture, heritage and history.
He said the visit of the ministerial delegation to collect the relic hair of Lord Goutam Buddha from Chittagong reflects the closeness between the two South Asian nations.
Ahmed stressed the need for increasing trade and commerce and investment between the two countries for the benefits of the two peoples, saying Sri Lanka could import world-class pharmaceutical products with competitive prices on bigger scale from Bangladesh apart from jute and jute products, ceramic, leather and leather products.
The Sri Lankan foreign minister expressed interest to import potato and cement from Bangladesh saying the trade minister would talk to his Bangladesh counterpart to explore the potentials for enhanced trade and business between the two countries.
Bangladesh exported goods worth 11.1 million US dollars to Sri Lanka in fiscal 2004-05 and 13.25 million USD in 2005-06, while imported from Sri Lanka goods worth 10.26 million USD 2004-05 and 10.86 million USD in 2005-06.
The Chief Adviser emphasised the importance of increasing bilateral trade volume as well as intra-South Asian trade mentioning that the intra-Asian and intra-Europe trade volume is very high. "We've to discuss how to increase intra-South Asian trade volume for the benefits of the people of this region," he told the delegation.
During the meeting, Ahmed informed the visiting Sri Lankan ministers about his government's various institutional and policy reforms to hold a free, fair and credible election in Bangladesh by December 2008, and about the drive against corruption, according to the CA's Press Secretary Syed Fahim Munaim who was present at the meeting.
The Sri Lankan foreign minister said they are very supportive to the reform initiative of the Bangladesh government and said Sri Lanka is now on the third phase of its reform. "Our economy is strong but high fuel oil price is affecting the country," Rohitha said.
Sri Lanka has investments in Bangladesh's RMG, textile and banking services.
Resuming air-services between Dhaka and Colombo also came up at the meeting for discussion.
Referring to overhauling of national carrier Biman Bangladesh Airlines, the CA said the government is looking for strategic partners in this sector.
Ahmed recalled his fruitful meeting with Sri Lankan President Mahinda Rajapaksa during the 14th SAARC Summit in New Delhi in April last.
Sri Lankan Trade Minister Bandula Gunawardene, Religious Minister Pandu Bandarnaiki and its High Commissioner in Dhaka and Foreign Adviser Iftekhar Ahmed Chowdhury and Bangladesh High Commissioner to Sri Lanka were, among others, present at the meeting.