Dhaka, Colombo agree to sign FTA this year: FS

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UNB, Dhaka :
Bangladesh and Sri Lanka on Friday agreed to sign Free Trade Agreement (FTA) by this year, aiming to further strengthen and institutionalise bilateral trade cooperation between the two friendly nations.
The decision to sign the FTA was finalised at the official bilateral talks between visiting Sri Lankan President Maithripala Sirisena
and Prime Minister Sheikh Hasina held at the Prime Minister’s Office (PMO).
After the meeting, Foreign Secretary M Shahidul Haque briefed reporters. Prime Minister’s Press Secretary Ihsanul Karim was also present.
The Foreign Secretary said the FTA with Sri Lanka would be Bangladesh’s first such deal with any country and necessary study would be done prior to signing the agreement.
He said, the bilateral meeting between Prime Minister Sheikh Hasina and Sri Lankan President Maithripala Sirisena would kick off a new journey in the bilateral relations of Dhaka and Colombo as the Sri Lankan President termed his visit to Bangladesh a historic one.
He said, both leaders asked the officials concerned to complete all the necessary steps quickly regarding the FTA so that this could be done shortly.
He also mentioned that if the FTA is inked it would help Bangladesh sign such FTAs with other countries. He also mentioned that there are some FTAs in the pipeline.
“To me, this is a big political process towards trade and investment between the two countries,” he added.
About signing of 14 instruments and deals after the official talks, Shahidul Haq said seven of these were on trade and investment which means that the two sides highly focused on boosting trade relations.
About the MoU on agriculture cooperation, Shahidul Haq said Sri Lanka wants to develop its agriculture sector taking lessons from Bangladesh’s tremendous success.
Pointing out the cooperation on higher education, he said a huge number of medical students from Sri Lanka are studying in Bangladesh and the two sides signed the MoU to further enhance cooperation in the sector.
Besides, an agreement on visa rebate of the official and diplomatic passport holders was also signed, aiming to make official level consultations more effective, he added. In addition to the 14 documents, a joint statement would also be issued at the end of the visit of Maithripala Sirisena, the Foreign Secretary said adding that a framework has been given for the first time regarding the relations between Dhaka and Colombo.
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