Sri Lankan businessmen are keen to invest in printed packaging products, RMG accessories, IT, education, food processing and electric cables sectors of Bangladesh.
They expressed the interest at two separate Business Match-Making sessions held with the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) and Dhaka Chamber of commerce and Industry (DCCI) in the capital yesterday.
A 12-member delegation under the leadership of acting High Commissioner of SriLanka A G Abeysekra met FBCCI leaders and DCCI leaders along with Bangladeshi businessmen to share business ideas of their respective sectors.
A G Abeysekra said: “A good number of investors are willing to invest in Bangladesh especially in RMG accessories, education, IT, electric cables and food processing.”
It would not only help develop trade and investment in Bangladesh but also address the bilateral issues, said Abeysekra.
He also urged the Bangladeshi private sector entrepreneurs to export more pharmaceutical products to Sri Lankan market and also to invest in pharmaceutical sector in Sri Lanka.
On the other hand, FBCCI President Kazi Akram Uddin Ahmed urged the Sri Lankan investors to invest in textile, leather, food, chemical, light engineering, ceramics, electronics, footwear and steel sector in Bangladesh as the government has offered all kind of facilities for attracting foreign direct investment.
He said Prime Minister Sheikh Hasina has undertaken several fast track projects to attract FDI and Bangladesh with its eight Export Processing Zones (EPZs) is trying hard to establish five Special Economic Zones under Public-Private Partnership (PPP) initiative to promote foreign investment.
“We want to be competitive instead of competitors and would like to grow up reciprocally,” said Akram.
DCCI President Mohammad Shahjahan Khan urged Sri Lankan businessmen to import more products including pharmaceuticals, jute gods, and handicrafts and to provide duty-free access.
He also stressed on the development of sea port connectivity between the two countries as Bangladesh is currently handling around 12% of its transshipment cargo through Colombo deep sea port.
In the fiscal year 2013-14, Bangladesh exported products worth around US$27m while imported products of over $66m.
Currently, 44 Sri Lankan companies are doing business in Bangladesh with an investment of $300m, while 6 Bangladeshi companies are doing business in Sri Lanka with an investment of $20m.
Chandani Ratnayake, deputy director of Sri Lankan Export Development Board, presented a power-point presentation on trade and investment opportunities in Sri Lanka.