Sri Lanka Opens Pharma Industry to Bangladesh Investors

The Sri Lankan government has invited Bangladeshi investors to consider investing in the country’s pharmaceutical industry.

Sri Lankan Industry and Commerce Minister Rishad Bathiudeen extended the invitation to Bangladeshi investors as he praised the standard of pharmaceuticals of Bangladesh.

Bathiudeen met a Dhaka Chamber of Commerce and Industry team led by chamber president Abul Kasem Khan at Sonargaon Hotel

He said Bangladeshi pharmaceuticals are of international standard and are being exported to at least 200 nations around the world.

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He also invited the businessmen to organise ‘single country trade fair’ in Sri Lanka to introduce Bangladeshi products into the country.

Bilateral trade between Sri Lanka and Bangladesh remains below expectations despite the two countries having good relations.

In the 2015-2016 period, Bangladesh imports from Sri Lanka reached a mere USD45.016 million while exports hit USD30.45 million.

Bangladesh to Set Up Insurance Database

In another development, the government of Bangladesh is working together with insurance groups in the country to come up with a comprehensive insurance database.

The Bangladesh Insurance Association and the Bangladesh Insurance Forum (BIF) will work together with the Insurance Development and Regulatory Authority of Bangladesh (IDRA) to come up with the database, sources said.

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Among the information that will be included in the database are the location status of insurance companies at the upazila and district levels and the number of clients of the sector.

By the end of this month, the database will have to be sent to the Bank and Financial Institutions Division (BFID) and to relevant authorities.

Bangladesh is also planning to observe the “National Insurance Day” to further stir interest for the sector.

A BFID official, however, said there is no fixed date for the said observance as of yet. – BusinessNewsAsia.com

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