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Bangladesh wants to boost trade with Sri Lanka

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COLOMBO (News 1st) – Bangladesh Foreign Minister Dr A K Abdul Momen has underscored the need for setting up direct shipping connectivity with Sri Lanka to boost trade relations between Bangladesh and the South Asian nation.He also emphasised the resumption of negotiations for the early conclusion of the Preferential Trade Agreement (PTA) between the two countries.Bangladesh's foreign minister put the importance while holding a meeting with his visiting Sri Lankan counterpart Ali Sabry on Wednesday on the eve of the 22nd ministerial meeting of the Indian Ocean Rim Association (IORA) in the capital, a foreign ministry press release said on Thursday.During the meeting, the two leaders discussed the wide spectrum of bilateral relations and expressed hope to work closely together for the betterment of the two peoples and inclusive development of the region.Momen urged Sri Lanka to increase the import of agricultural products and pharmaceuticals from Bangladesh at an affordable price.Sri Lankan foreign minister said that his country is keen to work in close partnership with Bangladesh.The two leaders agreed to expedite the completion of the formalities to form an institutional platform to hold regular and comprehensive dialogues between the two countries at the level of foreign minister.The issue of mutual support for each other's candidature at various international fora was also discussed with due importance.Momen also sought support from Sri Lanka in repatriating the forcibly displaced Myanmar nationals sustainably..

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Sri Lanka a major trading hub in Indian Ocean – Sabry
COLOMBO (News 1st) – Sri Lankan Foreign Affairs Minister Ali Sabry told the Indian Ocean Rim Association session in Bangladesh on Thursday (24) that Sri Lanka is poised and is well positioned to be one of the major trading hubs of the Indian Ocean, addign that the country has demonstrated manifestly significant openness to trade and commerce.He emphasised the significance and necessity of actively engaging with the countries of the Indian Ocean Rim to mutually advance the economic and commercial interests of Sri Lanka as well as to maintain peace and stability in the region of Indian Ocean. He further stressed that Sri Lanka’s commitment to the matters that concern the Indian Ocean region remains one of the key cornerstones of the current economic and foreign policy of Sri Lanka. Minister highlighted that Sri Lanka is strategically positioned at the centre of one of the busiest sea lanes of the world, adding that Sri Lanka’s traditional and ancient links with the countries of the IORM go back many centuries and empirical evidence reveals that Sri Lanka’s geographical centrality markedly facilitated and aided maritime commerce and trade over the centuries.Given its progression as an Indian Ocean Hub, Sri Lanka has emerged as one of the most pivotal shipping lanes since two-thirds of the petroleum products and half of the container shipments of the world criss-cross close to the Southern coast of the Island.The Minister apprised the member states at the Council of Ministers of the IORA concerning Sri Lanka’s efforts in sustainable and efficacious usage of maritime resources and immense ocean pollution challenges as well as projects and programs implemented to safeguard the coastal belt and the Indian Ocean. This is to
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