Sri Lanka and Bangladesh commit to boost bilateral and trade ties
Sri Lanka and Bangladesh have discussed the commitment of both countries to further strengthen bilateral relations, recognising that the time is right to further strengthen economic cooperation between the two countries.
Bangladesh High Commissioner to Sri Lanka Tareq Ariful Islam has reportedly stated that such a course will lead to progress in a number of areas, including apparel, agriculture, health and investment.
The High Commissioner has communicated these sentiments to Sri Lanka’s President Gotabaya Rajapaksa when he had called on the President recently.
This year also marks the 50th anniversary of diplomatic relations between Sri Lanka and Bangladesh. During this period, both countries have worked very closely and amicably.
President Rajapaksa has also expressed appreciation over Bangladesh’s support in the current economic crisis.
The High Commissioner has reiterated that there is an opportunity for both countries to strengthen cooperation in the fields of trade, tourism and education.
OSL take:
Sri Lanka and Bangladesh enjoy strong bilateral and trade ties that are to be further enhanced with a free trade agreement (FTA). Sri Lanka already enjoys FTAs with India and Pakistan and another with Bangladesh would further strengthen the island’s trade and exports sectors. It would also help the country on its path to becoming an emerging business destination in the South Asian region. This would place Sri Lanka in a strong position to engage with other economies in the region given the country’s geographical positioning in the Indian Ocean. Foreign businesses/investors could therefore confidently look at setting up base in Sri Lanka to engage with other countries in the region. Also, large scale businesses in the region could also look at entering Sri Lanka’s economy and also look at forming partnerships or joint ventures with local businesses.
| Article Code : | VBS/AT/15072022/X_1 |