Sri Lanka should consider Bangladesh as a large consumer as well as a major investment market since the companies that are already operating in Bangladesh are successfully reaping benefits.
Due to the friendly atmosphere prevailing within the country, lots of Sri Lankans have been investing in Bangladesh for a long time mainly in sectors such as power, Information Technology (IT), banking, food and beverages and furniture. The major exports from Sri Lanka to Bangladesh are Plastics, cotton, soap, organic activations, washing preparations, lubricating preparations and artificial waxes.
“The National Chamber of Commerce has a close connection with Dhaka Chamber of Industries and Commerce, Federation of Bangladesh Chamber of Commerce and Industry and Metropolitan Chamber of Commerce and Industry, thus this would help us to develop more business connections between the two countries,” President, National Chamber of Commerce (NCC), Asela De Livera told a discussion held by the NCC with a Business Delegation from Bangladesh.
He also said that they had signed a Memorandum of Understanding (MoU) with the Dhaka Chamber of Industries and Commerce and hope that they could develop the business relationship between the two countries through it.
The NCC has also conducted a successful business delegation three years ago to Bangladesh.
Bangladesh High Commissioner to Sri Lanka, Riaz Hamidullah said that the country is in the process of getting the GSP plus system, and believe that after gaining this they could have a stronger relationship with Sri Lanka in terms of exporting and importing. He said that new things needs to be introduced to develop the trade relations between the two countries such as maintaining connectivity, collaborating the garment manufactures in Bangladesh and Sri Lanka in spite of been competitors to eye the European market, Importing fabric from Bangladesh and possible strategic collaboration across the IT sector and entertainment sector between the two countries.
Sri Lankans gain the chance to not only access the Bangladesh market but also go beyond that. “Bangladesh and Sri Lanka does not have a business partnership but an economic relationship,” he said.
Representatives from the Ministry of Commerce, Export Promotion Bureau (EPB), Entrepreneurs and the National Board of Revenue of Bangladesh attended the event.
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