Bangladesh High Commissioner and SLPA Chairman explore enhanced port partnership
Daily FT: Bangladesh High Commissioner Andalib Elias recently held discussions with Sri Lanka Ports Authority (SLPA) Chairman Admiral (Retd.) Sirimewan Ranasinghe to discuss ways to deepen collaboration between the ports of Bangladesh and Sri Lanka, with the aim of streamlining bilateral trade.
During the discussions, the SLPA Chairman outlined the ongoing development projects at the Port of Colombo (POC), particularly the progress of the Colombo East International Terminal. He emphasised Sri Lanka’s commitment to maintaining its status as South Asia’s leading transshipment hub. Once completed, the new terminal will boost the Port’s handling capacity by 15 million Twenty-Foot Equivalent Units (TEUs), significantly enhancing operational efficiency and regional connectivity.
High Commissioner Elias highlighted and appreciated the crucial role played by the POC as a main transshipment hub port to connect their supply chains with other continents, especially Europe and the east coast of Asia.
Both parties expressed optimism about the future of port-to-port cooperation, recognising the potential for increased trade, investment, and economic ties that would benefit both nations.
OSL take:
Sri Lanka’s maritime industry is on a steady growth path, inching closer to the target of becoming a regional maritime hub. The country’s strategic positioning in the Indian Ocean in close proximity to international maritime lanes, the strong trade ties enjoyed with many foreign countries and the country’s path towards achieving overall hub status in business and trade have also supported the expansion of Sri Lanka’s maritime industry and related sectors like ports, shipping and logistics. The growth in the local maritime industry and related sectors have opened up a host of direct and indirect business/investment opportunities in these sectors. The Sri Lankan government’s development programmes targeting the maritime industry have presented many opportunities for foreign businesses/investors. The growth and business potential in Sri Lanka’s maritime industry and related sectors are evident by the interest shown by Indian and Chinese maritime businesses to do business in Sri Lanka. Bangladeshi businesses/investors could also explore the business/investment opportunities in Sri Lanka’s maritime industry that ensures quick returns on investments (ROIs). With Sri Lanka’s maritime industry on a steady growth path, other foreign businesses/investors could explore the expanding opportunities in the industry while also looking at setting up bases in Sri Lanka to engage with other countries in the region.
| Article Code : | VBS/AT/20250508/Z_3 |