Sri Lanka’s Export Development Board explores market opportunities in Bangladesh.
The Morning: The Sri Lanka Export Development Board (EDB) in association with the Sri Lankan High Commission in Bangladesh and the Bangladesh Electronics Merchant’s Association organised a Business-to-Business (B2B) session on 12 September 2022 to promote matchmaking and market-entry opportunities between Bangladesh and Sri Lankan electronic and electrical exporters/manufacturers.
Speaking on behalf of the Association, Secretary General Gouranga Dey remarked that Bangladesh is now on the path of becoming a major international manufacturing hub for electronic and electrical products and systems, and intends to soon become entirely export-driven in the production of electronic and electrical components to finished goods. He pointed out that the Bangladesh electronic and electrical industry would soon explore opportunities to establish additional manufacturing units in neighbouring countries.
The online event was also focused on achieving synergies between the electronic and electrical industries of both countries.
EDB Assistant Director Akila Dishan De Zoysa provided an overview of the Sri Lankan electronic and electrical sector to the participants at the discussion, and explained the willingness of Sri Lanka exporters for collaborations in niche areas with their Bangladeshi counterparts to satisfy the demand. He also said that Sri Lanka can be used as a transhipment hub for further value-addition activities by using the facilities available in the country.
In addition to the Bangladesh Electronics Merchant’s Association, three multinational Bangladeshi companies – namely, Minister Hi-Tech Park Electronics Ltd., Walton, and Nippon Industries (Pvt.) Ltd. – participated in this B2B event. Fourteen Sri Lankan electronic and electrical exporters/manufacturers participated at this B2B event, and are currently engaged with follow-up work with Bangladeshi counterparts for business links.
Sri Lankan High Commission in Bangladesh First Secretary (Commercial) Srimali Jayarathna pledged the fullest support and assistance of the High Commission to forge business ties and partnerships between Bangladeshi businesses and their Sri Lankan counterparts.
The EDB is hoping to organise a series of B2B sessions for Sri Lankan electronic and electrical sector companies with interested overseas companies in the targeted markets for the betterment of the Sri Lankan electronics and electrical sector.
The Bangladesh Electronics Merchants’ Association is an industry association representing the Bangladeshi electronic and electrical industry, with a membership of around 1,500 companies across Bangladesh.
OSL take:
Bangladesh is a fast emerging economy in South Asia and Sri Lanka and Bangladesh enjoy strong bilateral and trade ties. The two countries are also looking at reaching a free trade agreement (FTA). Sri Lanka’s geographical positioning in the Indian Ocean and the many trade agreements as well as trade concessions enjoyed by the country have presented a host of business/investment opportunities to attract Bangladeshi businesses/investors. Sri Lanka has held several rounds of promotional campaigns to woo Bangladeshi businesses/investors to Sri Lanka. Given Sri Lanka’s close business/trade ties in the South Asian region, foreign businesses interested in doing business in the region could look at setting up base in Sri Lanka.
| Article Code : | VBS/AT/06102022/X_3 |