SL-Bangladesh FTA under discussion

Sri Lanka and Bangladesh are considering entering into a free trade agreement. Attention was drawn towards this initiative during a meeting held between Finance Minister Ravi Karunanayake and Bangladesh High Commissioner Riaz Hamidullah at the Finance Ministry on 6 January.

The discussion was centered on the benefits to be tapped by both countries from such an important regional trade agreement of this nature. 

In addition, strategies to minimise the impact on the economies of the two countries, caused by looming economic depressions, were also discussed during the meeting.

It was also noticed that the implementation of the proposed agreement would be easier due to the close geographical locations of the two countries in Asia.

Accelerating naval links between Chittagong in Bangladesh and Colombo will also help implement this agreement successfully.

Meanwhile, the Bangladesh High Commissioner stated that Sri Lanka and Bangladesh, as leading apparel manufacturers, could be able to work together in order to further expand their exports to new foreign markets.

At the same time, Finance Minister Karunanayake pointed out that the aim of the current Government was to maintain cordial relations with neighbouring countries within the region. He also said that the Government expected to move forward with a proper foreign policy.