Bangladesh, Sri Lanka Business Leaders Look Forward to Trade Expansion
15 July 2017
Business leaders from Bangladesh and Sri Lanka welcomed the move by their respective governments to expand bilateral trade and investment. The signing of 13 memoranda of understanding and agreement to conclude a Free Trade Agreement (FTA) within the year were lauded in a business-to-business dialogue attended by President Sirisena, Mr. Ravi Karunanayake, Foreign Minister, Sri Lanka, Mr. Abul Hassan Mahmood Ali, Foreign Minister, Bangladesh, and representatives from business chambers, including the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI), Chamber of Young Lankan Entrepreneurs, Metropolitan Chamber of Commerce and Industry, and businesses, including Apex Footwear Ltd., Laugfs Holdings Ltd. of Sri Lanka, and Ceylon Biscuits Group.
Mr. Md. Shafiul Islam (Mohiuddin), President, FBCCI, noted the potential for business volume between the two nations to grow, with the FTA providing an avenue for more businesses and investments between the two countries.
Mr. Karunanayake assured Bangladeshi investors that Sri Lanka will approve investment proposals within 10 days.
Total trade between Dhaka and Colombo stood at $75.44 million in financial year 2015-2017, with Sri Lanka's exports amounting $45 million.
Related Links:
