DCCI calls for Dhaka-Colombo cooperation to tap blue economy potentials

Bangladesh and Sri Lanka should tap the immense potentials of blue economy and tourism for the win-win development of both the countries.

This was revealed at a meeting between Dhaka Chamber of Commerce and Industry (DCCI) President Rizwan Rahman and Sri Lankan High Commissioner to Bangladesh Prof Sudharshan DS Seneviratne at DCCI Gulshan Center in Dhaka, said a press release.

During the meeting, Rizwan Rahman said the manufacturing and service sectors of Bangladesh are high potential for the foreign investors where Sri Lankan entrepreneurs can invest in Bangladesh.

He mentioned that bilateral trade between Bangladesh and Sri Lanka reached $165.04 million in the fiscal year 2020-21, where export and import was $47.32 million and $117.72 million respectively.

The DCCI president said that Bangladesh mainly exports pharmaceuticals, RMG and seeds, on the other hand imports machinery, textiles, chemical, mineral products, base metal etc form Sri Lanka.

To utilise the untapped trade and investment potentials, he said, Bangladesh and Sri Lanka can sign Free Trade Agreement (FTA) and collaborate in ICT, outsourcing, tourism and engineering solutions.
He also said that Sri Lanka can be an attractive destination for Bangladeshi investors.

The Sri Lankan high commissioner said that Bangladesh has a huge potential in the blue economy sector in the Bay of Bengal.

Moreover there are huge opportunities to work jointly for the win-win development of the blue economy sector, he added.

He said that signing the PTA (Preferential Trade Agreement) with Bangladesh is in progress and he hoped that soon both governments would be able to sign it.

If the performance of PTA is good then initiative can be taken to sign FTA in future, he added.

He also expressed his hope to increase the bilateral trade volume to $1 billion in next five years.

He also invited Bangladeshi investors to invest in tourism, agriculture, shipping and logistic sector in Sri Lanka.

Sri Lanka High Commission First Secretary (Commercial) Srimali Jayarathne and DCCI Senior Vice-President Arman Haque were also present during the meeting.