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Bangladesh, Sri Lanka want early conclusion of PTA to boost trade

31 Mar '22
1 min read
Pic: Shutterstock
Pic: Shutterstock

Bangladesh and Sri Lanka recently stressed on the early conclusion of a preferential trade agreement (PTA), hoping that it will significantly ‘widen’ bilateral trade. Bangladesh foreign minister AK Abdul Momen and his Sri Lankan counterpart G L Peiris met on the sidelines of the 18th Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) Ministerial Meeting in Colombo.

They discussed areas of cooperation, including diversification and expansion of the export basket. Momen stressed on initiating regular commercial shipping lines and cruise shipping for enhancement of trade and people-to-people contacts, a news agency reported.

He emphasised and echoed the position of Bangladesh leadership for better utilisation of Colombo port for transportation of goods from Bangladesh. He also pointed out that the high price of air tickets is creating barriers to promoting tourism between the two South Asian countries.

The negotiations over the PTA are at an advanced stage, said Bangladesh’s secretary (east) Mashfee Binte Shams, who attended the meeting.

Fibre2Fashion News Desk (DS)

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