There is every prospect of Bi-lateral trade between Sri Lanka and Bangladesh, now at US$ 34 million increasing to US$ 100 million within the coming year, President of the Sri Lanka Chamber of Small Industry, Aloy Jayawardena said on the return of a chamber trade delegation yesterday.

Following is the text of the chamber’s report on the visit:

"The Twelve Member Trade Delegation organised by the SLCSI I visited Dhaka, Bangladesh, led by its President, Mr. Aloy Jayawardene. The delegation were guests of The Bangladesh Export Processing Zone Authority (BEPZA), Sri Lanka Bangladesh Chamber of Commerce and Industry (SLBCCI), Federation of Bangladesh Chamber of Commerce and Industry (FBCCI), Dhaka Chamber of Commerce and Industry (DCCI), India - Bangladesh Chamber of Commerce and Industry (IBCCI) and Foreign Investors Chamber of Commerce and Industry (FICCI), Mr. H.M.T.D. Herath, Minister Sri Lanka High Commission in Dhaka accompanied the delegation at all meetings, being the Sri Lanka Government representative."

"Under the "BEPZA", there are eight industrial Zones covering two main business cities of Dhaka and Chittagong. Initial Investment to be US $ 2.5 million and they are provided most of the facilities such as land, security, infrastructure, company forming facilities etc. A leading Korean investor employs 45,000 workers at four of the Industrial Zones. The minimum salary of a worker is approximately US$ 30/- per month. Their natural resource is gas which is given almost free and power at extremely low costs."

"The Federation of Bangladesh Chambers of Commerce and Industry, the meeting chaired by it’s President Mr. Annisul Huq and it’s officials participated. Over fifty business people were present and one to one discussions were held at their Auditorium. Leader of the Sri Lankan delegation, President Jayawardene speaking said that the Delegation comprises Exporters, Importers and Investors who want to trade in Domestic Rubber Goods, Engineering Products, Automotive Parts, Garments Accessories, Electrical and Mechanical Service Providers, Stewarding Detergents etc. He further said that the Mission expects, to -strengthen Sri Lanka’s trade and investment ties with Bangladesh and reveal a range of interesting possibilities which are yet to be tapped in The vital areas of Bi-lateral relations. The present volume of Bi-lateral trade does not reflect the full potential in the area, even on a conservative estimate."

"The folders brought from Sri Lanka’s BOI were distributed among the business leaders present."

"Two of the mission members, Mr. Nihal Perera, M.D., Illukumbura Industrial Automation (Pvt) Ltd and Mr. Luvi Seimon, M.D., Impressions Labels (Pvt) Ltd, met company directors who were interested to commence business in Bangladesh. They had meetings later at their counterparts’ offices in Dhaka. Business is certain to develop in the near future."

"Our meetings with the other chambers also brought success to Mr. Keith Sumanasena, Chairman, Deto Surfacts (Pvt) Ltd. where he met partners to promote Tourism between both countries and also interested companies in Detergents and committed to supply to Royal Park Residence Hotel and Apollo Dhaka, business to commence shortly. Mr. Jude Rodrigo, Proprietor, Bopitiya Auto Enterprises had meetings with two very successful buyers for the export of motor spare parts. He is presently negotiating with them and the first consignment of export will be within the coming months."

At every meeting it was the current President who chaired the meetings and there were around 40-50 Bangladesh Business Personalities with whom every member of our mission had cordial relationship. At present the bi-lateral trade is around US $ 34 million and it’s the view at every meeting that this be raised to around US $ 100 million within the coming year. With our mission. We should be able to increase the trade to some extent, to bridge the gap."