Bangladesh and Sri Lanka have signed five Memorandums of Understanding (MoUs) during Sri Lankan President Mahinda Rajapaksa's three-day visit to Dhaka, recently. The implementation of the MoUs could create a relationship of immense cooperation in different fields between the two countries.
MoUs Signed
Bangladesh and Sri Lanka have signed MoUs on technical education, nurses training, culture, exchange in education and science, agriculture research, research of fisheries and livestock, and export promotion.
In addition, during the official meeting between President Rajapaksa and Prime Minister Sheikh Hasina, the two leaders discussed cooperation in food security, shipping and curbing terrorism. In the exclusive talks, they stressed the need for working together in the regional and international forums. Sri Lanka has assured of extending support to Bangladesh vying for nonpermanent membership in the United Nations Security Council (UNSC).
Over all, the Sri Lankan president's Bangladesh visit can be termed a great scope for developing Dhaka-Colombo bilateral relations. Both countries are still lagging far behind in optimum utilization of the scopes and prospects in the fields on which the MoUs have been signed.
Trade Development
In the fiscal year 2009-10, Bangladesh exported goods worth $23.7 million to Sri Lanka. Sri Lanka at the same time exported goods worth $22.6 million to Bangladesh. In the first six months of the current fiscal, Bangladesh's exports were at $13.8 million, whereas Sri Lanka's exports stood at $12.8 million. Finance Minister Abul Maal Abdul Muhith has said the volume of bilateral trade between Dhaka and Colombo is not satisfactory. The Sri Lankan finance minister has said that the trade volume was not mentionable.
But there have been immense prospects. The Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) presented those prospects before the Sri Lankan president during the luncheon arranged in his honor on 19 April. The FBCCI has urged the Sri Lankan entrepreneurs to invest in the infrastructure, agro-industry, power and energy sectors of Bangladesh. FBCCI President A.K. Azad has placed proposals for joint venture investment in coconut oil industry, textiles, hide, shoe making, engineering, and food processing industries. The organization also has called for forming a joint economic council to enhance bilateral trade and investment. It may be mentioned here that Sri Lanka invested $70 million in Bangladesh from 1971 to 2010.
The dim picture of trading between the two countries could be brightened with a successful implementation of the proposals adopted during the visit of Sri Lankan president. The two countries have agreed to undertake various measures in this regard, including removing nontariff barriers and brining diversity in export items.
Cooperation in Other Sectors
In addition, the peoples of both countries could reap immense benefits by utilizing the huge scopes and prospects in cooperation in the fields of technical education, nurses training, culture, exchange in education and science, agriculture research and research on fisheries and livestock. There should not have any dearth in active initiatives from our side in this regard.
MoUs Signed
Bangladesh and Sri Lanka have signed MoUs on technical education, nurses training, culture, exchange in education and science, agriculture research, research of fisheries and livestock, and export promotion.
In addition, during the official meeting between President Rajapaksa and Prime Minister Sheikh Hasina, the two leaders discussed cooperation in food security, shipping and curbing terrorism. In the exclusive talks, they stressed the need for working together in the regional and international forums. Sri Lanka has assured of extending support to Bangladesh vying for nonpermanent membership in the United Nations Security Council (UNSC).
Over all, the Sri Lankan president's Bangladesh visit can be termed a great scope for developing Dhaka-Colombo bilateral relations. Both countries are still lagging far behind in optimum utilization of the scopes and prospects in the fields on which the MoUs have been signed.
Trade Development
In the fiscal year 2009-10, Bangladesh exported goods worth $23.7 million to Sri Lanka. Sri Lanka at the same time exported goods worth $22.6 million to Bangladesh. In the first six months of the current fiscal, Bangladesh's exports were at $13.8 million, whereas Sri Lanka's exports stood at $12.8 million. Finance Minister Abul Maal Abdul Muhith has said the volume of bilateral trade between Dhaka and Colombo is not satisfactory. The Sri Lankan finance minister has said that the trade volume was not mentionable.
But there have been immense prospects. The Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) presented those prospects before the Sri Lankan president during the luncheon arranged in his honor on 19 April. The FBCCI has urged the Sri Lankan entrepreneurs to invest in the infrastructure, agro-industry, power and energy sectors of Bangladesh. FBCCI President A.K. Azad has placed proposals for joint venture investment in coconut oil industry, textiles, hide, shoe making, engineering, and food processing industries. The organization also has called for forming a joint economic council to enhance bilateral trade and investment. It may be mentioned here that Sri Lanka invested $70 million in Bangladesh from 1971 to 2010.
The dim picture of trading between the two countries could be brightened with a successful implementation of the proposals adopted during the visit of Sri Lankan president. The two countries have agreed to undertake various measures in this regard, including removing nontariff barriers and brining diversity in export items.
Cooperation in Other Sectors
In addition, the peoples of both countries could reap immense benefits by utilizing the huge scopes and prospects in cooperation in the fields of technical education, nurses training, culture, exchange in education and science, agriculture research and research on fisheries and livestock. There should not have any dearth in active initiatives from our side in this regard.
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