Sri Lankan High Commissioner to Bangladesh WA Sarath K Weragoda on Thursday emphasized on signing free trade agreement with Bangladesh to derive mutual benefits through boosting trade and commercial activities. If FTA is signed, Sri Lanka can import jute from Bangladesh for its booming jute industry and Bangladeshi investors can also go to Sri Lanka for their investment, he said. The economic growth rate of Sri Lanka is 6.8 per cent while that of Bangladesh is 6.2, very closer than other countries in this region, he said.
The high Commissioner stated this while delivering a lecture on ‘Sri Lank, its foreign policy, security strategy and relations with Bangladesh’ at Bangladesh Institute of International and Strategic Studies. Ambassador Munshi Faiz Ahmad presided over the discussion.
Replying to a question, Sarath K Weragoda mentioned that Sri Lanka has already signed FTA with India and Pakistan. ‘Sri Lanka’s FTA with Pakistan is working very well,’ he said.
Sarath said although there are identical export commodities of Bangladesh and Sri Lanka including tea, readymade garment and spices, still there is scope to expand trade in other products between the two countries through FTA.
Due to unavoidable circumstances, a meeting on FTA with Bangladesh was postponed last week, he noted.
According to available statistics, more than US$ 292 million of Sri Lankan investments by 45 Lankan companies are now in Bangladesh but Bangladeshi investment in Sri Lanka remains insignificant.
Replying to a question on employment, Sarath said although a good number of Sri Lankan nationals were working in Bangladesh in RMG and IT sectors, prospect of Bangladeshis to work in Sri Lanka was restricted.
‘Sri Lankan population is small but they are highly educated,’ he said, adding that his government has kept on ensuring the standard of education for their citizens.
Asked about a question on migrant workers, the high commissioner said that his country has been sending both skilled and non-skilled workers to different countries; about 40 per cent of their migrants are employed in the Arab states.
Sarath mentioned the need for further improvement of air and ship connectivity between Dhaka and Colombo to help enhance the trade relations.
He expressed happiness over continuing support of Bangladesh, especially in the exchange of training facilities and scholarships.
Emphasizing on FTA with Sri Lanka, BIISS chairman Munshi Faiz Ahmad said Bangladesh could get benefit from the agreement as Mexico gained from the North Atlantic Free Trade Agreement.
Besides, Bangladesh could take lessons and good practices from Sri Lanka through exchange of students and professionals, he said.
As both Bangladesh and Sri Lanka are labour sending countries, they can work together to protect and promote management of overseas employment following the Colombo process, Munshi mentioned.
Bureaucrats, academia, policy makers and representatives from non-government organisations took part in the discussion.
-With New Age input
