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Business plenary on “Sri Lanka & Bangladesh Economic Ties: Building Bridges for Growth”
Members of the visiting business delegation of Dhaka Chamber of Commerce & Industry (DCCI) participated at the business plenary session titled “Sri Lanka & Bangladesh Economic Ties: Building Bridges for Growth” organized by the National Chamber of Commerce of Sri Lanka held on June 18, 2025 at the National Chamber’s Auditorium in Colombo. The High Commission of Sri Lanka in Bangladesh has extended their facilitating role to DCCI in organizing this successful business visit to Sri Lanka.
Welcoming the delegation of the Dhaka Chamber Anura Warnakulasooriya, President of the National Chamber of Commerce of Sri Lanka said that mutual trust and confidence are essential for expanding trade and investment, and such cooperation between the private sectors of the two countries will help increase bilateral trade. He also said that the more delegations we can exchange, the more businesses will happen.
DCCI President Taskeen Ahmed, in his speech, said that despite global economic challenges and geopolitical turmoil in the last few decades, Bangladesh's economic growth has been quite stable and Bangladesh's sectors such as readymade garments, pharmaceuticals, leather products, agro-processing products, electronics and light engineering, and information technology have played an important role in this journey.
He said Sri Lankan entrepreneurs have already invested US $438.11 million in Bangladesh in the banking and financial sector, textile and readymade garment, energy, construction and urged them to come forward more in the potential sectors of Bangladesh. The Dhaka Chamber president stressed the need for reviving the Double Taxation Avoidance Agreement signed nearly three decades ago for the betterment of bilateral trade. He later invited Sri Lankan investors to visit Bangladesh and see the state of the art facilities of economic zones here. Moreover, Bangladesh government has been giving various incentives to the foreign investors, utilizing these facilities, he urged the Sri Lankan investors to invest in the EZs.
Andre Fernando, President of the Sri Lanka-Bangladesh Business Cooperation Council urged Bangladeshi entrepreneurs to invest in and contribute to the development of Sri Lanka's pharmaceutical sector.
Mangala Wijesinghe, Chairman of the Sri Lanka Export Development Board stated that the export sector contributes 19.6% to Sri Lanka’s GDP, and the total exports in 2024 amounted to USD 16.2 billion. He mentioned that Sri Lanka is emphasizing on expanding export markets and diversifying its export products. He also noted that in 2024, Sri Lanka imported pharmaceuticals, ready-made garments, fabrics, and chemicals from Bangladesh. Additionally, he expressed that there is significant potential for increasing bilateral trade in sectors such as cotton and textiles, fabrics, spices, animal feed, plastic products, nuts, and agricultural products. He urged Bangladeshi entrepreneurs to invest in Sri Lanka’s pharmaceutical, packaging, logistics and export-oriented manufacturing sectors.
Renuka M Weerakone, Director General of Sri Lanka's Board of Investment stated that the signing of a Free Trade Agreement (FTA) between the two countries would significantly boost bilateral trade and investment, as well as help removing tariff-related barriers. She mentioned that Sri Lanka has established specialized economic zones for attracting foreign investment in the pharmaceutical, medical equipment, and fabric sectors, and Bangladeshi entrepreneurs are encouraged to invest in these areas. She further noted that sectors such as infrastructure, tourism, information technology, and education also hold great potential for foreign investors in Sri Lanka. Renuka added that the Board of Investment of Sri Lanka is currently operating 15 export processing zones equipped with all necessary services to facilitate and support investors.
Andaleeb Elias, Bangladesh High Commissioner in Sri Lanka mentioned that signing a FTA (Free Trade Agreement) will be instrumental for expanding bilateral trade and investment of both countries in coming days
Sri Lankan High Commissioner to Bangladesh Dharmapala Weerakkody joined the event virtually and also spoke on the occasion.
Rizwan Rahman, Former President of DCCI opined that a Free Trade Agreement (FTA) will be beneficial to boost trade and investment between the two countries. He expressed that there is an ample opportunity for both countries to work together in harnessing the great potential of the blue economy and maritime resources. To expand bilateral trade, he stressed the importance of removing tariff-related barriers and implementing timely and relevant policy reforms.
Around150 B2Bs were held with the DCCI delegation where around 70 Sri Lankan businesses participated in active B2B interaction. The B2B match-making session provided an opportunity for the entrepreneurs of both countries to exchange business and investment-related information, which is expected to play an effective role in expanding bilateral trade in the future.
DCCI Senior Vice President Razeev H Chowdhury, Vice President Md. Salem Sulaiman along with members of the board of directors were also present on the occasion and took part in the B2B.
Published on: 2025-06-18