NCCSL to expand Lanka-Bangladesh trade

By Gamini Warushamana

The National Chamber of Commerce of Sri Lanka (NCCSL) will exploit the Commonwealth Business Forum to expand bilateral trade and investment between Sri Lanka and Bangladesh for starters, to reach a bilateral trade agreement between the two countries.

A joint business meeting has been organised between the Bangladesh delegation at the CBF (Commonwealth Business Forum) and top business leaders at the NCCSL auditorium tomorrow.

The meeting is organised by the Bangladesh High Commission in Colombo, the Sri Lanka-Bangladesh Business Council and the NCCSL. A MoU will also be signed between the NCCSL and the Dhaka Chamber of Commerce and Industry.

Bangladesh High Commissioner, Mohammad Rahuman said that a 38-member high profile delegation will participate at the CBF representing three leading business chambers, Federation of Bangladesh Chamber of Commerce, Dhaka Chamber of Commerce and Industry, and International Chamber of Commerce. The meeting aims at finding new areas of collaboration to promote business between the two countries, he said.

"There are similarities between the two economies. Both countries experienced the 2008 global financial crisis and today we have faced similar issues related to external sector balance," Rahuman said.

"The Sri Lankan economy is growing fast and the Bangladesh economy too is expanding. During the past four years our GDP increased by 50 percent and this is the right time to start a business dialogue to sign a bilateral trade agreement," he said. A bilateral trade agreement should go beyond the South Asia Free Trade agreement (SAFTA). "We can begin with the sensitive lists of SAFTA and go forward. There are opportunities for Sri Lankan investors in Bangladesh in areas such as power and energy, road construction, apparel and IT sectors," Rahuman said.