Bangladesh and Sri Lanka will collaborate in boosting apparel exports to Europe. One possible area of cooperation is export of some products to the EU through Sri Lanka for better prices. Another is value addition in export products. Now Bangladesh’s exporters use Singapore port to export goods and it takes 20 to 22 days but if they use Colombo port the lead time would be reduced by three or four days.

Relations between Bangladesh and Sri Lanka are improving rapidly. Their bilateral trade is valued at $142 million and has the potential to be boosted. Even though goods are traded at a significant level, emphasis will be given to increase the trade volume and further diversify the product range benefitting both countries. Bangladesh is also a country that exports apparel to the global market but has not been able to secure GSP Plus that Sri Lanka currently enjoys. Hence, Sri Lanka is able to export apparel to the European market at cheaper rates than Bangladesh can.

Sri Lanka imports from Bangladesh pharmaceutical products, electrical machinery and equipment, apparel and clothing accessories, textile fibers, chemicals, cellular phones and bicycle parts. Sri Lanka exports to Bangladesh textiles and textile articles, enzymes, chemicals, minerals, plastics, rubber products, paper products and tea.