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EPB discusses enhancing trade ties with Sri Lanka

EPB discusses enhancing trade ties with Sri Lanka

Staff Correspondent

Sri Lankan High Commissioner to Bangladesh Dharmapala Weerakkody and Export Promotion Bureau Vice-Chairman and CEO Md Anwar Hossain held a productive discussion at the EPB office on 9 December on enhancing bilateral trade ties between the two countries.

The high commissioner initiated the discussion by explaining the current status of bilateral trade relations between Bangladesh and Sri Lanka, emphasising the significant untapped potential between the two nations, the High Commission of Sri Lanka said in a press release.

He highlighted that the apparel and textile industry is the largest contributor to Sri Lanka’s exports. In 2023, this industry accounted for 32% of the country’s total export earnings.

He noted that leading Sri Lankan garment companies, including MAS, Brandix, Hirdaramani and Univogue, are currently operating in Bangladesh, and many Sri Lankan professionals are also working in Bangladesh's apparel industry.

The high commissioner further stated that Bangladesh textile companies have an opportunity to invest in the Textile Zone in Eravur Sri Lanka which was developed by the Board of Investment of Sri Lanka (BOI).

Anwar Hossain, who also serves as the administrator of the Bangladesh Garment Manufacturers and Exporters Association (BGMEA), mentioned that the authorities here highly recognise the contribution of Sri Lanka to the development of Bangladesh's apparel and textile industry.

He said Sri Lankan coconut-based products, including coconut oil, and spices have a huge demand in the Bangladesh market.

He further mentioned that both countries have the potential to develop cooperation, especially in the tourism and healthcare sectors.

The vice-chairman and CEO said the EPB is interested in participating in relevant trade fairs in Sri Lanka in the coming year.

Both sides agreed on the active implementation of the memorandum of understanding (MoU) signed between the Chittagong BGMEA Institute of Fashion and Technology, Bangladesh, and the Sri Lanka Institute of Textile and Apparel in 2017.

In addition, they discussed the possibility of expanding the scope of the MoU signed between the EPB and the Sri Lanka Export Development Board in 2011.

Both sides also agreed to consider organising single-country products exhibitions, read the release.

The counsellor (commercial) of the High Commission of Sri Lanka, Srimali Jayarathna, participated in the discussion.

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