Dhaka, Colombo agree to sign PTA

Bangladesh and Sri Lanka have agreed to sign a preferential trade agreement (PTA) to boost bilateral trade and investment, sources said.
The consensus was reached on the first day of the two-day joint working group meeting in Dhaka Tuesday.
The joint secretary-level meeting also decided to form a joint study group to examine a template, prepared for signing the agreement.
"The template will be submitted later to the joint working group for finalisation. After that the government high-ups concerned will sign the PTA," a senior commerce ministry official, who attended the meeting, told the FE.
He said in the meeting two sides also discussed about removing the tariff and non-tariff barriers that hinder bilateral trade.
Sources said Bangladesh side, in today's (Wednesday) meeting, may submit the demand for duty-free access of its 21 products, including apparel, cement and leather goods, to Sri Lankan market.
Bilateral trade between the counties has been gradually increasing since the civil war in Sri Lanka ended following defeat of Liberation Tigers of Tamil Eelam (LTTE).
The bilateral trade was US$48 million in 2010, which reached $83 million in 2012, marking a 73 per cent rise.
Sources said some 45 Sri Lankan companies have invested $292 million so far in Bangladesh under joint venture.
Another senior official said a Sri Lankan delegation, led by commerce secretary Anuara Siriwardena, met Commerce Minister Tofail Ahmed at his secretariat office on the same day.
In the meeting both the minister and the secretary expressed interest to sign the PTA and increase cooperation to help flourish trade and economic relations.