Traders of the National Chamber of Commerce of Sri Lanka have urged Bangladeshi entrepreneurs to invest in the pharmaceutical sector in Sri Lanka. At that time, the businessmen of the two countries insist on the free trade agreement (FTA).
The call was made to a delegation of Dhaka Chamber at a business planning session titled 'Development of Bangladesh-Sri Lanka commercial relations' to expand economic growth on Wednesday.
The Dhaka Chamber said in a notification that the business plan was held with the overall cooperation of the Bangladesh High Commission in Sri Lanka.
On the occasion, a delegation of Dhaka Chamber was held with a representative of 4 Sri Lankan businesses, where the entrepreneurs of the two countries have the opportunity to exchange information and investment information, which will play an effective role in expanding bilateral trade in the future.
President of the National Chamber of Commerce of Sri Lanka, Anura Warnakulasuria, said that the expansion of trade and investment will help mutual confidence and trust and such coordination between the private sector of the two countries will help increase bilateral trade.
Taskin Ahmed, president of the Dhaka Chamber of Commerce and Industries (DCCI), said Bangladesh's economic growth was quite stable in the past few decades, even in global economic challenges and geopolitical instability. The garment, medicines, leather products, agricultural processing products, electronics and light engineering and information technology have played an important role in this progress.
Taskin Ahmed said that Sri Lanka entrepreneurs have already invested US $ 1.5 million in banking and financial sector, textile and readymade garments, energy, infrastructure, etc. and called for more investment in Bangladesh's potential sectors.
The president of the Dhaka Chamber emphasized the conclusion of the 'Double Taxation Avoidance Agreement' signed about three decades ago for the greater development of bilateral trade.
Sri Lanka-Bangladesh Business Co-operation Council president Andre Fernando urged Bangladeshi entrepreneurs to come forward to develop and invest in his country's pharmaceutical industry.
Sri Lanka Export Development Board Chairman Managala Wisinghi said the export sector contributed to the GDP of Sri Lanka was 5.7 percent and the total exports in 2021 were US $ 1.2 billion.
He said that Sri Lanka is giving more priority over its export product expansion and diversification of products. In 2021, products like pharmaceuticals, garments, fabrics and chemicals have been imported from Bangladesh.
He also said that there are opportunities to increase bilateral trade in yarn and textile, fabric, spices, livestock, plastic products, nuts and agricultural sectors.
Managala Wizysinghi urged Bangladeshi entrepreneurs to invest in Sri Lanka's drugs, packaging, logistics and export -oriented products.
The Board of Investment of Sri Lanka Renuka M Wyrakun said that bilateral trade and investment between the two countries will be greatly enhanced in addition to the increase in bilateral trade and investment.
Speaking on the occasion, Bangladesh High Commissioner to Sri Lanka Andalib Elias said the FTA signature is essential to expand trade and investment between Bangladesh and Sri Lanka.
Former DCCI president Rizwan Rahman said the FTA government will have to come forward to increase bilateral business and investment.
