Latest round of trade talks took place today at the 4th Session of Bangladesh-Sri Lanka Joint Commission on Economic and Technical Cooperation in Dhaka, Bangladesh. The third session of the Joint commission was held in 1993.
Sri Lanka’s Minister of Industry and Commerce Rishad Bathiyutheen delivering opening remarks at today’s session said the Sri Lanka-Bangladesh Joint Commission (JEC) is the most appropriate mechanism to implement the 2011 Memoranda of Understanding between Sri Lanka and Bangladesh.
“We need to have a fresh look and identify the complementarity prevalent between our two countries, so that we can generate more cooperation and exchanges. And we should also pool our synergies in order to exploit other markets, working as a value chain,” the Minister has noted.
“Bilateral cooperation between the historic friends may also open doors of international opportunities,” the Minister said.
Both sides have agreed that the bilateral trade between the two South Asian countries was far below its potential despite the cordial bilateral relations between the two countries.
The trade between the two countries has only reached an all-time high of US$ 46 million.
During the visit of Sri Lankan President Mahinda Rajapaksa to Dhaka in April 2011, the two countries signed five MoUs agreeing to take measures to strengthen their commercial relations through innovative ways to facilitate trade, shipping and air connectivity.
Minister Bathiyutheen is leading the Sri Lankan national delegation to Dhaka sessions. The 4th session of JT&EC will conclude on 8 March