Lanka third highest investor in Bangladesh

Sri Lanka is the third largest source of Foreign Direct Investment in Bangladesh, said Bangladeshi High Commissioner Mahbubuzzamam.

Bangladesh High Commissioner for Sri Lanka Mahbubuzzamam expressed this sentiment when he met Prime Minister D.M. Jayaratne at the Prime Minister's Office. They discussed matters pertaining to mutual relations between the two countries.

During the discussion Bangladeshi High Commissioner Mahbubuzzamam said Sri Lanka is the third largest source of Foreign Direct Investments (FDI) for Bangladesh following USA and South Korea. He said, "Sri Lankan investors are mainly focused on producing leather products, garments and chemicals by investing in Bangladesh and many other projects which are implemented by Lankan entrepreneurs." He also mentioned that trade between Sri Lanka and Bangladesh is not very large and therefore there is huge potential in the future for the two countries to expand its trading activities.

"Trade between the two countries accounts to nearly $19 million, which is not very significant", he said. In addition he mentioned that many Sri Lankan students show great interest in following academic courses at Bangladeshi Medical Colleges.

The Ambassador further stated that there are more than 2, 000 Sri Lankan nationals working in Bangladesh mainly in the garments business.

Also nearly 400 visas are issued per month for Sri Lankans granting approval to enter Bangladesh.

Prime Minister D. M Jayaratne in reply said, "Sri Lanka has now stepped into a new path of development and the government of Sri Lanka appreciates the partnership of Bangladesh in this process". He also stated that it is a pleasure to continue a healthy relationship with Bangladesh especially because it is a member of the SAARC association.