Ideal platform to promote tourism, related trades :

Bangladesh, Sri Lanka Business Cooperation Council formed

Sanjeevi JAYASURIYA

The Sri Lanka-Bangladesh Business Cooperation Council will facilitate trade and investment between the two countries.

The similarities of the countries will be an ideal platform to promote tourism and related trades, Sri Lanka Bangladesh Business Cooperation Council Secretary Sujeiva Samaraweera told Daily News business.

"There is high recognition for Sri Lankan employees in Bangladesh where most of the top companies have employed Sri Lankan Chief Executive Officers. We can exploit trade opportunities and exchange technical know-how," he said.

The country can focus on the same product line that goes to India including pharmaceuticals, cosmetics, ayurveda products, confectioneries, tea and related products and gem and jewellery. This could be the major areas of development.

"The imports from Bangladesh will mainly be jute bags and Sri Lanka is looking at a different kind of business perspective. As Bangladesh is a LDC, Sri Lanka could benefit from trade agreements that provide concessions. We can export products to Bangladesh and do value addition," he said.

There are free zones in main cities in Bangladesh and Sri Lanka could invest deriving benefits from the concessions offered.

This is an ideal opportunity to set up factories for re-exportation.

Sri Lankan service industry could strive as there is a need for more hotels, recreation facilities. There is also immense potential for transportation, logistic industry, tourism, management consultancy services.

"The Government is planning to sign key trade related agreements with Bangladesh. The entry to Bangladesh is relatively easy compared to India and we need to capitalize on this situation," he said.

The key factor is that Bangladesh people welcome Sri Lankans and they are keen on good governance.

As there is direct links to Bangladesh by Mihin Lanka it is a tremendous advantage.

The Buddhist tourism could be promoted between the two countries in this regard. Sri Lanka could be the hub for the key routes of sea and air for Bangladesh where both countries could benefit from these links facilitating a rapid economic growth, Samaraweera said.