Lankan envoy calls for tapping Colombo-Dhaka trade potential

Sri Lankan High Commissioner to Bangladesh V. Krishnamoorthy on Wednesday urged the business communities of Bangladesh and Sri Lanka to utilise the untapped trade potentials in the two countries for mutual benefit.

"There are huge untapped potentials in the two countries that the business communities should utilise for their mutual benefit," he told a press conference of Sri Lanka-Bangladesh Chamber of Commerce and Industry (SLBCCI) at the Dhaka Club.

SLBCCI President S. Renganathan, Secretary T. D. Packir and executive committee member Syed Tanvir Asan also spoke.

The High Commissioner emphasised on building stronger people-to-people contact, especially between the business communities, for greater economic engagement of the two countries.

He forwarded a list of products for the convenience of businessmen of the two countries so they could easily identify the products of their export-import interests.

Bangladesh, the Sri Lankan envoy said, can export pharmaceuticals, jute and jute products, and cement to Sri Lanka while Sri Lanka can export coconut, edible oil, spices, yarn, prefabricated buildings, aluminium wire and confectioneries such as chocolate and biscuits.

Renganathan stressed the need for signing an FTA (free trade agreement) between the two countries to benefit both countries in terms of enhanced trade, investment and services.

Packir announced a seven-point action plan of the bi-national trade body for 2008-09 to promote bilateral trade and economic interest.

The plan includes measures like strengthening the trade relationship, promoting FDI (foreign direct investment), tourism, direct air and shipping links, and ensuring FTA between the two countries.

SLBCCI executive committee member Tanvir Asan offered businessmen in Bangladesh, particularly the young ones, chamber cooperation to do business with Sri Lanka. The New Nation, Bangladesh