BโDesh announces a speedier Trade Pact in offing
- โGreat! Good Newsโ -Rishad
- โTalks will conclude successfullyโ-(HE) Ashan
- YoY Bilateral trade jumps by 67%
- โThanks for your support at ITUโ-(HE) Ashan
As bilateral trade with Bangladesh showed a strong rise, the country has signalled that it has now definitively started moving towards the historic trade pact with Sri Lanka, as revealed on 12 November in Colombo-and Bโdesh wants the Agreement ย to be โsigned fast.โ โAt my final meeting with our (HE) Prime Minister Sheikh Hasina just before my departure to Colombo, she advised me to focus strongly on trade during my new tenure in Sri Lanka. I am pleased to inform you that the Trade Agreement under discussion between both countries at present, will come to a successful endโ announced a determined (HE) Tarik Ashan (the newly appointed Bangladeshi High Commissioner to Sri Lanka) on 12 November.
(HE) Ashan was addressing Rishad Bathiudeen (Minister of Industry and Commerce of Sri Lanka) and his top officials on 12 November at EDB, Colombo. (HE) Ashan who was making his first courtesy call on Minister Bathiudeen upon his arrival to Colombo, has been in Dhaka for the previous four years, and this is the first time the (HE) Ashan assumes overseas duties as a High Commissioner.
According to the Department of Commerce of Sri Lanka, Bangladesh is the 25th export destination of Sri Lanka in 2013. Bilateral trade between both countries jumped by a strong 67% in 2013 to $ 139.23 Mn (from 2012โs $ 83.19 Mn).
โSri Lanka โBangladesh bilateral trade has tripled over the last few years. In fact, my final meeting with our (HE) Prime Minister Sheikh Hasina just before my departure to Colombo, she advised me to focus strongly on trade during my new tenure in Sri Lankaโ said (HE) Ashan, and added: โI am pleased to inform you that the Trade Agreement under discussion between both countries at present will come to a successful end. Once agreed on technicalities, we need to sign the Agreement immediately. In the meantime, in the coming days, we will start to respond to your trade suggestions made to us at Colombo meeting on 23 September. The government of Bangladesh wishes to appreciate Sri Lanka for its support in its international initiatives. We thank Sri Lanka for its support to Bangladesh at International Telecommunication Union ballots.โ
On 23 September, Sri Lanka and Bangladesh successfully inked their second bilateral Joint Working Session in Colombo while also coming to a consensus on creating a prospective Trade Agreement between the historic partners, but stopped short of the exact nature of the Trade Agreement to be reached โfor a whileโ.
โWe welcome your governmentโs prompt response in this regardโ said Minister Bathiudeen, responding to (HE) Ashan, and added: โWe are ready for the nature of Agreement that you look forward to-whether a Preferential Trade Agreement (PTA) or a Free Trade Agreement (FTA). Whatever the form, our government led by the committed HE the President Mahinda Rajapaksa would be positive on the requirements that you have. In fact we welcome a Free Trade Agreement if you so choose. Despite increase in trade, there is still a great potential for win-win outcomes and therefore it is now time to move beyond the current trade levels of $139 Mn. A trade agreement is the way forward to move towards bigger bilateral export baskets and volumes.โ
Sri Lankaโs leading exports to Bangladesh in 2013 were apparel (cotton, fabrics, Narrow woven fabrics and other articles of apparel) and enzymes. Leading imports from Bangladesh in 2013 were medicaments, apparel, electric accumulators, and potatoes-in fact, most of Sri Lankan exports to Bangladesh relate to the garment industry.
Leader of All Ceylon Makkal Congress