Economic Cooperation

Bangladesh and Sri Lanka have a Joint Economic Commission (JEC) which has so far had five sessions. The last, fourth session of the JEC was held in Dhaka in February 2012 . The fifth session of JEC in Sri Lanka is in the offing.

The volume of trade between Bangladesh and Sri Lanka increased to over USD 115 million in 2014-15 from USD 24 million in 2005-2006. The balance of trade is in favour of Sri Lanka; with an import volume sum USD 92.81 million in 2015. Although the growth of the bilateral trade in last few years is significant, the volume of trade is not commensurate with its potentials.The two countries have been deliberating on the possibility of entering into a Preferential Trade Agreement (PTA) or a Free Trade Agreement (FTA) with a view to enhancing bilateral trade. The issue of FTA was the the main agenda item in the first Joint Working Group (JWG) on Trade held in Dhaka during 18-19 February 2014 and the Second JWG on Trade held in Colombo on 22-23 September 2014.

The two countries have a healthy relation of investment. Sri Lankan investment in Bangladesh is estimated to be over US$ 300 million.

Bangladesh and Sri Lanka already have an Agreement on Avoidance of Double Taxation and Fiscal Evasion. The two countries are currently negotiating a number of agreements that would facilitate trade and investment between the two countries.

Then Minister of Health (current President) H.E. Maithripala Sirisena exchanging MoU on Procurement of Pharmaceuticals with Hon’ble Minister of Health and Family Welfare of Bangladesh in Dhaka on 23 June 2014
Seminar on Trade with Bangladesh at National Chamber of Commerce of Sri Lanka on 30 June 2015