Bangladesh and Sri Lanka could increase mutual trade through diversifying the trading items that will help narrow the trade gap between the two countries, said businessmen of both the countries in the capital Monday.
They also laid emphasis on strengthening bilateral trade by utilising the existing business potential.
Their observations came at a business match-making session of Bangladeshi and the visiting Sri Lankan businessmen held at the auditorium of Dhaka Chamber of Commerce and Industry (DCCI) on the day.
Senior Vice President of DCCI Osama Taseer moderated the open discussion session. Deputy Director of Sri Lankan Export Development Board Chandani Ratnayake presented a power-point presentation on trade and investment opportunities in Sri Lanka.
Welcoming the Sri Lankan business delegation, DCCI President Mohammad Shahjahan Khan said Bangladesh and Sri Lanka could play an important role in strengthening bilateral trade and investment.
He urged Sri Lanka to import more pharmaceuticals, handicrafts and jute products from Bangladesh.
He said the direct maritime connectivity between Chittagong and Mongla ports with Colombo as well as Trincomalee port in Sri Lanka will surely boost the bilateral trade.
Acting High Commissioner of Sri Lanka to Bangladesh A G Abeysekara said there are tremendous opportunities for Bangladesh and Sri Lanka to enhance their mutual trade.
He stressed the need for increasing trade and investment between the two friendly countries for their mutual benefits.
He said Sri Lanka is already importing pharmaceutical items from Bangladesh through the government channel. He urged Bangladeshi private sector entrepreneurs to export more pharmaceutical items to Sri Lanka. He invited Bangladeshi entrepreneurs to invest in the pharmaceutical sector in Sri Lanka.
The Sri Lankan envoy expressed hope that the volume of two-way trade would increase significantly within the next few years considering the business potential of the two countries.
The present level of bilateral trade between Bangladesh and Sri Lanka is far from being satisfactory and it still remains at a very low level.
Bangladesh imported goods from Sri Lanka worth US$ 39.6 million as against its exports worth only $ 23.69 million during the fiscal year (FY) 2012-13.
Sri Lankan's leading export items to Bangladesh include apparel (cotton, fabrics, narrow woven fabrics and other articles of apparel) and enzymes. Bangladesh mainly exports medicine, apparel, electric accumulators and potato to Sri Lanka.
DCCI Director Rizwan-Ur Rahman urged the Sri Lankan businessmen to invest more in Bangladesh.
DCCI Directors Haider Ahmed Khan, FCA, Muktar Hossain Chowdhury, Hossain A Sikder, Abdus Salam, AKD Khair Mohammad Khan, Former Vice President Absar Karim Chowdhury, M Abu Hurairah and DCCI Secretary AHM Rezaul Kabir were present.
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