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Lanka to expand trade with Bangladesh

Sunday Observer, Sri Lanka

Lanka to expand trade with Bangladesh

15 August 2010

Trade between Sri Lanka and Bangladesh will grow due to the vast opportunities in both countries to expand business, said High Commissioner of Bangladesh, Mahbub Uz Zamman.

He was addressing a forum on ‘Bi-lateral trade discussion with Bangladesh’ at the National Chamber of Commerce of Sri Lanka (NCCSL) on Thursday.

Zamman said trade between the two countries was low due to lack of awareness on trade opportunities.Trade links between the countries will help increase trade.

Sri Lanka exported goods to the value of around US$ 18 million to Bangladesh last year and imported goods to the value of around US$ 19 million during the year.

Coconut oil, plastics and rubber based products, crude rubber, wood and wood based products,footwear, headgear, cement, asbestos, gem and jewellery, glass and glassware are exported by Sri Lanka to Bangladesh.

Sri Lanka imports agricultural products, raw jute, jute goods knittedware, woven garments and chemical products from Bangladesh.

Zamman said both countries have evinced an interested to enter into a Free Trade Agreement (FTA) which would enhance trade between the two countries.

“The government of Bangladesh is optimistic about the FTA and talks relating to the agreement will commence soon”, he said.