Business
Bangladesh-SL FTA could help boost bilateral trade though uncertainties remain – Economist
By Ifham Nizam
A Free Trade Agreement (FTA) between Bangladesh and Sri Lanka could significantly enhance bilateral trade, although uncertainties remain, a Bangladeshi economic analyst said.
Speaking to The Island Financial Review economist Jamal Uddin said that both nations have substantial opportunities for economic collaboration, particularly in regional trade. Bangladesh currently imports more from Sri Lanka, but there is optimism among businessmen that the situation may improve under the new government led by Nobel laureate Dr. Muhammad Yunus.
Uddin added: ‘The recent political upheaval in Bangladesh, including the resignation of former Prime Minister Sheikh Hasina, has impacted trade, but business leaders are hopeful that stability will return, enabling better trade relations.
‘The prospects of a FTA is especially appealing as it could lower tariffs and boost exports from Bangladesh to Sri Lanka, particularly in sectors like pharmaceuticals, paper and cement.
‘Bangladesh’s trade deficit with Sri Lanka has been growing, with Sri Lanka exporting more to Bangladesh than it imports. In the fiscal year 2022-23, Bangladesh’s trade deficit with Sri Lanka was USD 1.63 million, and this gap is expected to widen. Despite this, Bangladeshi exports to Sri Lanka have shown some growth, particularly in goods like medicines, ready-made garments and home textiles.
‘The FTA negotiations have been ongoing, with technical committees from both countries working on the details. If successful, the FTA would be Bangladesh’s first with any country, and it is expected to make regional trade more efficient by potentially reducing import-export times by 3 to 4 days if Sri Lankan ports are used.’
Meanwhile, a Sri Lankan businessman said: ‘Businessmen of Dhaka feel that everything is not normal yet. But they are optimistic that the situation will soon be under the control of the new government. Sri Lankans are doing well in the energy sector in Bangladesh and the recent political problem could be a storm in a tea cup.
‘Businessmen are optimistic that the new government will work to improve the business environment, especially since their eyes are on regionally focused. We urge the creation of an enabling business- friendly environment for boosting bilateral trade in this region.
‘In the case of Sri Lanka, Bangladesh depends on it for some goods and services. Recently, Bangladesh participated in a trade fair in Colombo and Bangladeshi businessmen are now looking to strengthen opportunities for trade development. Data found that both sides are eagerly waiting for a FTA that could increase business volumes.’
According to Abdul Awal Mintu, a former president of the Federation of Bangladesh Chambers of Commerce and Industries (FBCCI), there is a good relationship between Dhaka and Colombo.
Mintu said the opening of LCs and import-export activities had been disrupted during the uprising. He believed that the situation will be normalized soon.
‘Statistics indicate that Bangladesh’s imports from Sri Lanka are increasing. However, the export of products to Bangladesh is also increasing from Sri Lanka. Overall, the bilateral trade gap is currently in favor of Sri Lanka, he explained.
Business
UN Global Compact Network Sri Lanka mobilizes business to lead with purpose
As businesses navigate an increasingly complex operating environment shaped by workforce transformation, evolving stakeholder expectations, technological disruption and shifting market demands, strengthening performance requires more than new strategies. It requires new ways of thinking, leading, and collaborating.
It was against this backdrop that UN Global Compact Network Sri Lanka convened CATALYZE 2026: Social, bringing together business leaders, sustainability practitioners, policymakers, development partners and industry experts to mobilize collective action and equip businesses with the knowledge, partnerships and practical approaches needed to strengthen performance through responsible business.
More than a forum for dialogue, CATALYZE 2026 was designed to help businesses think differently about performance. It reinforced that long-term success is increasingly shaped by how organizations lead, uphold human rights, foster inclusive workplaces, strengthen ethical governance, and build cultures that enable innovation, resilience and trust. Responsible business is no longer separate from business performance — it is fundamental to it.
Aligned with the UN Global Compact’s 2026–2030 Global Strategy, the Forum reflected its three strategic pillars — Equip, Catalyze and Advance — by strengthening business capability, fostering collaboration and mobilizing leadership to accelerate progress on social sustainability.
UN Global Compact Network Sri Lanka’s approach to social sustainability centres on driving this change — recognizing that meaningful progress comes not only through policies and commitments, but through the everyday decisions, leadership behaviours and organizational cultures that shape how businesses operate. CATALYZE 2026: Social encouraged participants to move beyond intention towards implementation, embedding responsible business practices into strategy, governance and organizational culture.
Opening the CATALYZE 2026: Social, Rathika de Silva, Executive Director of UN Global Compact Network Sri Lanka, spoke to the role of responsible business leadership in strengthening Sri Lanka’s global competitiveness:
“Sri Lanka has the workforce, resilience, and opportunity to compete not by being the cheapest producer, but by becoming the most trusted. As global expectations evolve, compliance is no longer simply a cost of doing business — it is the foundation of market access, and the decisions we make today will determine how strongly we compete in the markets of the future.”
The Forum featured keynote addresses, leadership dialogues and technical sessions on the issues shaping the future of business, including business integrity and anti-corruption, human rights, neurodiversity and inclusive workplaces, artificial intelligence and the future of jobs, the Women’s Empowerment Principles (WEPs), responsible sustainability communications, and workforce resilience. Together, these discussions highlighted how responsible leadership, inclusive practices, and strong governance contribute to organizational resilience, innovation, and long-term performance.
Business
A regional conversation on the future of English language teaching
Free British Council online conference brings together leading educators from across South Asia to explore how creativity, inclusion and technology can help prepare learners for a rapidly changing world
The British Council has announced the South Asia TeachingEnglish Online Conference 2026, a free three-day event that will convene educators, researchers and teacher educators from across the region to examine one of the most pressing questions facing education today: how can schools equip learners with the creativity, adaptability and communication skills needed to thrive in an increasingly complex world?
Taking place from 23–25 July 2026, the online conference comes at a time when education systems across South Asia are grappling with the challenge of balancing curriculum demands, assessment pressures and evolving learner needs. While English remains a critical gateway to academic and professional opportunities, educators are increasingly seeking approaches that move beyond language acquisition alone to foster critical thinking, collaboration, learner agency and participation.
Business
The Ceylon Chamber convenes dialogue on energy security and standards for Sri Lanka’s energy transition
The Ceylon Chamber of Commerce recently hosted a discussion titled “Energy Transition in Sri Lanka: Strategic Insights from Global Markets”, bringing together representatives from the public and private sectors, industry experts, academics, and other stakeholders to examine the opportunities and challenges associated with Sri Lanka’s evolving energy landscape.
Held at a time when countries around the world are accelerating their transition towards cleaner, more resilient, and technology-driven energy systems, the event provided a timely platform to examine renewable energy not only as an environmental priority but as a strategic pillar of national energy security, with implications for economic growth and long-term competitiveness. The discussion also considered the increasing importance of reliable energy infrastructure in meeting the growing demands of digital transformation, including emerging technologies such as artificial intelligence, electric mobility, and data centres.
The programme covered a wide range of topics relevant to Sri Lanka’s energy future, including renewable energy development, energy security, regulatory and policy frameworks, electricity sector reforms, energy storage systems, grid modernization, investment and financing considerations, and international experiences in energy transition. Particular attention was given to the need for creating an enabling environment that supports innovation, attracts investment, including the technical and safety standards required to protect consumers and businesses as storage and solar adoption scales nationally.
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