Lanka yet to explore Bangladesh market - Jeyaraj

BY RAMANI Kangaraarachchi

SRI LANKA will hold a single country Trade Fair in Bangladesh to promote trade and investment between the two countries shortly, said Trade and Commerce and Consumer Affairs Minister Jeyaraj Fernandopulle at the inauguration of Bangladesh Single Country Trade Fair at the SLECC last Friday.

He said although the bilateral relationship has progressed, the trade potential has not been fully exploited. The Minister stressed the importance of investing in potential areas to generate income and employment.

Bangladeshi High Commissioner to Sri Lanka Yakub Ali said the two countries who are competitors in tea and garment exports have ample room to expand bilateral trade.

Bangladeshi Commerce Minister Air Vice Marshal Chaudary said Sri Lanka is the third largest destination of Bangladeshi products in the region. But the trade volume remains very low.

The Minister urged Lankan investors to participate in joint venture projects in Bangladesh in all sectors specially in diamond cutting, polishing, banking and IT.

Twenty one units from Sri Lanka, valued at US $ 91,173 million have invested in Bangladesh, he said.

The Trade Fair, organised by the Export Promotion Bureau of Bangladesh and the Bangladesh High Commission in Colombo, comprised a large number of stalls representing garments, pharmaceuticals, cosmetics, ceramics and giftware, food items and electrical sectors.