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Increase import from Bangladesh

Commerce minister urges Lankan counterpart

Star Business Report
Newly appointed Commerce Minister Col (retd) Muhammed Faruk Khan yesterday urged his visiting Sri Lankan counterpart to increase import of medicine, jute and leather goods from Bangladesh to enhance the existing trade relations between the two countries.
He also reiterated the Bangladesh government demand for establishing a direct air link between Dhaka and Colombo to achieve the target of increasing trade among the Saarc (South Asian Association for Regional Cooperation) nations.
“You can visit our pharmaceutical plants, most of which have world class facilities. Their products maintain high standard and are of competitive price," Faruk Khan told Lankan Commerce Minister Prof GL Peiris when the latter called on him at his office.
At the meeting the two ministers agreed to review and expand the existing bilateral trade, investment and economic relations.
Faruk Khan said without dedicated connectivity, bilateral trade relations cannot be improved in the era of open market.
The minister said Bangladesh is likely to host a meeting in Dhaka soon to revise the existing commercial agreements on air services.
GL Peiris said as the matter is related to Saarc and Safta issues, it needs thorough discussion before signing any pact to this effect.
Sri I^nkan High Commissioner in Dhaka V Krishnamoorthy, among others, was present at the meeting.
Meanwhile, a 22-member Lankan trade delegation headed by GL Peiris held a meeting yesterday with the members of Dhaka Chamber of Commerce and Industry (DCCI) in the capital, according to a statement.
At the meeting, Peiris said both the countries should explore more areas to enhance bilateral trade. He also mentioned Grameen Bank models being adopted by Sri Lanka to boost its micro-credit sector. He lauded the role of small and medium enterprises (SMEs) and put emphasis on assisting the SMEs with capital to ensure their growth.
Krishnamoorthy said Bangladesh is the fourth largest trading partner of Sri Lanka and there are enormous prospects of trade between the two countries. Around 20 Lankan companies are taking part in the ongoing month-long Dhaka International Trade Fair, he added.
DCCI President Zafar Osman said in order to eradicate poverty from the region, Saarc countries should increase intra-regional trade.
He also said under Safia (South Asian Free Trade Area), the two countries can increase their bilateral trade in service and manufacturing sectors. He stressed enhancing cham-ber-to-chamber relations for exploring potentials in such sectors-as textile, agriculture and information technology driven by private sector.