Sri Lanka has floated interests to form joint ventures with Bangladesh focusing on synthetic fabric production, healthcare sector, tourism and IT sector. Sri Lankan High Commissioner Dharmapala Weerakkody said this at a meeting held with Dhaka Chamber of Commerce & Industry (DCCI) recently, adding there was a potential for growing bilateral trade and investment. Two-way trade between the countries was $134.06 million in fiscal 2023-24, a 9.5% increase. Sri Lanka’s investment in Bangladesh stands at about $428.56 million, covering banking, textiles, power, construction and pharmaceuticals.
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The two countries will also resume negotiations on a Preferential Trade Agreement (PTA) to enhance regional economic cooperation. Expected to start in late April or early May 2025, the talks would seek to boost trade and investment flows between the countries.
DCCI President Taskeen Ahmed invited Sri Lanka to assist Bangladesh in the development of deep-sea fishing and tourism industries of Bangladesh through the transfer of technical expertise. He also called for the early finalization of PTA to realize the potential of bilateral relations. DCCI’s Senior Vice President Razeev H Chowdhury, Vice President Md. Salem Sulaiman and Counsellor (Commercial) of Sri Lankan High Commission Srimali Jayarathne were also present, among others.
