Sri Lanka interested in expanding ties in shipping with Bangladesh
Sri Lanka interested in expanding ties in shipping with Bangladesh
Sri Lankan foreign minister GL Peiris recently met his Bangladeshi counterpart AK Abdul Momen in Dhaka and expressed interest in collaborating in the shipping field, with cooperation between the ports of Chittagong and Colombo and Hambantota. He emphasised on feeder services and coastal shipping arrangements. Both discussed bilateral commercial ties.
Cooperation on a transshipment hub would be beneficial to Bangladesh because of the reduction of time and nautical miles, a Bangladeshi newspaper reported.
Sri Lanka’s investment in Bangladesh is around $2.5 billion. About 110 Sri Lankan companies are operating in Bangladesh. The annual bilateral trade volume is now around $200 million.
Sri Lanka is keen on a preferential trade agreement with Bangladesh and is happy that technical negotiations have commenced and are proceeding, Peiris said.