The High Commission of Sri Lanka in Bangladesh is ramping up efforts to strengthen bilateral trade ties between the two nations. High Commissioner Dharmapala Weerakkody met with Vice Chairman and CEO of the Export Promotion Bureau of Bangladesh (EPB), Anwar Hossain, on 9 December 2024, at the EPB Office to explore opportunities for increased collaboration.
High Commissioner Weerakkody initiated the discussion by outlining the current status of trade relations, emphasizing the untapped potential between Sri Lanka and Bangladesh. He highlighted that Sri Lanka’s apparel and textile industry is the largest contributor to its export earnings, accounting for 32% of total exports in 2023. He also noted that prominent Sri Lankan garment companies, including MAS, Brandix, Hirdaramani, and Univogue, have operations in Bangladesh, and many Sri Lankan professionals contribute to Bangladesh’s apparel sector. Additionally, he encouraged Bangladeshi textile companies to explore investment opportunities in Sri Lanka’s Textile Zone in Eravur, developed by the Board of Investment of Sri Lanka (BOI).
Vice Chairman Anwar Hossain acknowledged Sri Lanka’s contributions to Bangladesh’s apparel and textile industry development. He noted the strong demand for Sri Lankan coconut-based products, such as coconut oil and spices, in the Bangladeshi market. Hossain also emphasized the potential for cooperation in tourism and healthcare sectors and expressed interest in participating in trade fairs in Sri Lanka in the coming year.
Both parties agreed on the active implementation of the Memorandum of Understanding (MoU) signed between the Chittagong BGMEA Institute of Fashion and Technology, Bangladesh, and the Sri Lanka Institute of Textile and Apparel in 2017. They also discussed expanding the scope of the MoU between the Export Promotion Bureau of Bangladesh and the Sri Lanka Export Development Board, signed in 2011. Plans to organize single-country product exhibitions were also considered.
The meeting was attended by Counsellor (Commercial) of the High Commission of Sri Lanka in Dhaka, Srimali Jayarathna, further underscoring the commitment to fostering stronger trade partnerships.