The High Commissioner of Sri Lanka in Bangladesh, Dharmapala Weerakkody, said that joint investment in synthetic fabric manufacturing could be highly beneficial for investors from both Sri Lanka and Bangladesh.

He made the remarks at a meeting with the DCCI president in the capital on Sunday. During the meeting, Sri Lankan high highlighted healthcare, tourism, large hotel, IT, education and pharmaceutical sector as some of the most potential sectors for joint venture investment.

Dhaka Chamber of Commerce and Industry (DCCI) President Taskeen Ahmed sought Sri Lanka’s support for deep-sea fishing and tourism development, citing the country’s expertise and technical assistance in these areas.

He also urged more Sri Lankan entrepreneurs to invest in agriculture and food processing, construction industry, healthcare, tourism, IT and FMCG sectors in Bangladesh.

Sri Lankan high commissioner in Bangladesh paid a courtesy visit to Dhaka Chamber of Commerce and Industry (DCCI) in the capital, according to press release.

He also proposed to expand negotiations at the government level for the early signing of the proposed Preferential Trade Agreement (PTA), which would greatly enhance bilateral trade and investment.

During the meeting, DCCI president said the bilateral trade between Bangladesh and Sri Lanka reached $134.06 million in FY2023-24, marking a significant rise from $93.11 million recorded in FY 2019-20, reflecting an impressive growth rate of 9.5% per year.

He also said that a good number of Sri Lankan investors especially from the banking, textile, power, construction and pharmaceutical sector already invested here in Bangladesh worth USD 428.56 million as FDI.

Sri Lankan high commissioner said Bangladesh and Sri Lanka are both SAARC countries and both the nations maintain a good friendly bilateral diplomatic relation for a long time.

He urged the entrepreneurs of Bangladesh to utilise Sri Lanka's experience and technical expertise to develop the local tourism sector of Bangladesh.

He also said that Sri Lanka has already signed a PTA with a number of countries and negotiations with Bangladesh will begin soon to further expand bilateral trade and investment between the two countries.

DCCI’s Senior Vice President Razeev H Chowdhury, Vice President Md Salem Sulaiman and Counsellor (Commercial) of Sri Lankan High Commission Srimali Jayarathne were also present at that time.