The inaugural Virtual Business Conclave and B2B session organised by the business chambers in Bangladesh and Sri Lanka was held on 14 March 2024, with the aim of promoting and strengthening trade relations between the two countries. The first-ever business networking session which held followed by a Virtual B2B session was jointly organized by the High Commission of Sri Lanka in Bangladesh, the National Chamber of Commerce Sri Lanka (NCCSL), together with the Dhaka Chamber of Commerce and Industry (DCCI).
In his opening remarks, President of the NCCSL Deepal Nelson emphasised the continuous commitment of NCCSL to enhance trade and economic cooperation between Bangladesh and Sri Lanka. He further expressed that it is desire of the NCCSL to continue collaborating with the DCCI to organise similar virtual B2B meetings in the future. Addressing the gathering, DCCI President Ashraf Ahmed said as a leading business chamber in Bangladesh, DCCI always seeks to connect and collaborate with foreign chambers to facilitate exporters and importers. The DCCI President pledged the Chamber’s full support to the Sri Lankan business sector with the aim of harnessing untapped potential.
During the session, the President of the Sri Lanka Bangladesh Business Corporation Council (SLBBCC) of the NCCSL Andre Fernando highlighted that the primary objective of SLBBCC, established under the NCCSL is to identify opportunities for Sri Lankan businesses in Bangladesh. He expressed optimism that the both sides would be able to maximize benefits through the Virtual B2B conclave.
Addressing the gathering, High Commissioner of Bangladesh to Sri Lanka Tareq Md Ariful Islam admired the efforts of DCCI and NCCSL to connect the business communities in Bangladesh and Sri Lanka. The High Commissioner of Bangladesh pointed out that the similarity of products manufactured by both countries is the main reason for the slow growth in the bilateral trade volume between Bangladesh and Sri Lanka. Despite the product similarities, the two countries still have opportunities to expand their trade volume, he added. The High Commissioner of Bangladesh further requested both chambers to consider exchanging the business delegations.
In his remarks, the High Commissioner of Sri Lanka to Bangladesh Dharmapala Weerakkody highlighted that the Virtual B2B conclave is a timely event as it brings Sri Lankan and Bangladeshi companies from various sectors onto one platform with a view to exchanging contacts and enhancing trade. The High Commissioner of Sri Lanka highlighted that both countries should work together to increase the value of bilateral trade to at least US$ 500 million within the next few years. In this regard, private sector companies have a significant role to play, he added. High Commissioner Weerakkody further mentioned that the Bangladesh Sri Lanka Preferential Trade Agreement (BSPTA), which is under negotiation will provide more opportunities for the business sectors of Bangladesh and Sri Lanka to expand their market.
Following the conclusion of the Virtual Conclave, the Virtual B2B session was commenced between the participating companies from Bangladesh and Sri Lanka. Eleven Bangladeshi companies and eighteen Sri Lankan companies were connected virtually and held a total of 47 B2B meetings.
The High Commission of Sri Lanka wishes to organize a series of similar virtual B2B sessions in the future as well with the support of NCCSL and DCCI to promote two-way trade for the mutual benefit of both countries.
High Commission of Sri Lanka
Dhaka
19 March 2024
