Sri Lanka has urged Bangladeshi entrepreneurs to invest in its growing pharmaceutical sector and explore new opportunities in export-oriented industries, as part of efforts to strengthen bilateral trade ties.

The call was made during a business plenary session titled ‘Sri Lanka and Bangladesh Economic Ties: Building Bridges for Growth’ held at the National Chamber of Commerce of Sri Lanka in Colombo on Wednesday (18). Around 150 meetings were held during the visit, involving over 70 Sri Lankan firms. A delegation from the Dhaka Chamber of Commerce and Industry (DCCI) attended the session.

The President of the National Chamber, Anura Warnakulasooriya said that greater private sector collaboration and mutual trust would deepen trade relations.

DCCI President Taskeen Ahmed invited Sri Lankan businesses to explore investment opportunities in Bangladesh’s economic zones, which offer incentives and modern infrastructure. Former DCCI President Rizwan Rahman said that maritime collaboration and tariff reforms could unlock further trade potential.

The President of the Sri Lanka-Bangladesh Business Cooperation Council, Andre Fernando urged Bangladeshi investors to contribute to Sri Lanka’s pharmaceutical sector.

The Chairperson of the Export Development Board, Mangala Wijesinghe noted that Bangladesh supplies pharmaceuticals and ready-made garments to Sri Lanka and emphasised expanding cooperation in sectors like packaging, logistics, and agriculture.

The Director General of the Board of Investment, Renuka M. Weerakoon said that a free trade agreement (FTA) between the two countries would help remove tariff barriers and boost bilateral trade. She said that Sri Lanka has 15 export processing zones focused on pharmaceuticals, fabrics, and medical equipment.

Bangladesh High Commissioner (HC) to Sri Lanka Andaleeb Elias and the Sri Lankan HC to Bangladesh Dharmapala Weerakkody also backed the proposal for an FTA.

(The Daily Star)