Sri Lanka and Bangladesh have finalized the much awaited Coastal Shipping Agreement

Posted by Daily Shipping Times on 11-10-2018        Tweet

COLOMBO: Sri Lanka and Bangladesh have finalized the much awaited Coastal Shipping Agreement, and it will be signed shortly, Development Strategies and International Trade Minister Malik Samarawickrama said at a a recent forum in Colombo.

The agreement will allow third party access for Sri Lankan vessels to East Indian Ports, he said.

“Coastal Shipping agreement between Sri Lanka and Bangladesh will be signed very soon after receiving Cabinet approval, which will also permit third Country port usage— meaning ports in East Coast of India can be used,” he said.

The bilateral deal is expected to cut down both the transhipment cost and time between Chittagong and Colombo, boosting competitiveness.